In The Commissioner Of Income Tax v. M/S.international Rectifier, the High Court (2007) decided the matter.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX REFERENCE NO. 146 OF 1989
The Commissioner of Income Tax ... Applicant
Versus
M/s.International Rectifier
Corpn. ... Respondent
Mr. Beni Chatterji with Mrs. Poonam P. Bhosale
for Applicant.
Mr. J.D. Mistry i/by Kanga & Co. for Respondent.
CORAM: F.I.
J.P.DEVADHAR, JJ.
DATED: JULY 25, 2007
P.C.:
P.C.:
. As the tax incidence is less than four lakhs and
in view of the Circular issued by the C.B.D.T. we
do not propose to answer the Reference.
. Accordingly Reference is returned as unanswered.
The question of law raised in the Reference are left
open for consideration, if need be, in an
appropriate case.
(J.P.DEVADHAR, J.)
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