In The Commissioner Of Income Tax v. M/S Simplex Marketing, the High Court (2005) decided the matter.
Issue: Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that investment allowance is allowable on the musement machinery? .
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX REFERENCE NO. 199 OF 1996.
The Commissioner of Income Tax...... Appellant.
vs.
M/s Simplex Marketing
....... Respondent.
Shri Ashok Kotangale with G. Hariharan i/b H.D.Rathod for the appellant.
Ms.Shobha Jagtiani i/b D.M. Haresh & Co. for therespondent.
P.C. :----
CORAM : V.C.DAGA AND J.P. DEVADHAR, JJ.
DATED : 29th August 2005.
.By this reference under section 256(1) of
the Income-tax Act, 1961, 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 Tribunal was
right in holding that investment allowance
is allowable on the musement machinery?
.
In view of the judgment of this Court in the
stands returned unanswered with no order as to
costs.
(J.P. DEVADHAR,J.)
(V.C.DAGA,J.)
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