The Commissioner Of Income Tax – City V, Bombay v. M/S.reunion Engineering Co. Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.497 OF 1995 The Commissioner of Income Tax – City V, Bombay..Appellant. Versus M/s.Reunion Engineering Co. Private Limited..Respondent. Mr.Suresh Kumar for the appellant.Mr.Subhash S. Shetty for the respondent. CORAM : J.P. Devadhar &A.R. Joshi, JJ. P.C. : DATE : 17[th] January 2012 1.At the instance of the Commissioner of Income Tax – City V, Bombay, the Income Tax Appellate Tribunal has referred the following question of law for the opinion of this Court. “Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in directing the assessing officer to grant investment allowance in respect of certain items of plant and machinery installed at factories ?” 2.Similar question raised by the Revenue in the case of the assessee, being Income Tax Reference No.18 of 1990 have been returned unanswered by order dated 5[th] July 2005 in the light of the judgment of this Court in the case of Commissioner of Income Tax V/s. Pithwa Engineering Works reported in (2005) 276 ITR 519 (Bom) as the tax effect is less than the monetary limits prescribed by the Central Board of Direct Taxes. 3.In this view of the matter, the Reference is returned unanswered. (A.R. Joshi, J.) (J.P. Devadhar, J.)