The Commissioner Of Income Tax v. Tata Engineering & Locomotive

-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. Income Tax Reference No.119 of 1998 The Commissioner of Income Tax ..Appellant vs. Tata Engineering & Locomotive Co. Ltd. ..Respondent Mrs.Devak Iyer for appellant. Mr.P.C.Tripathi for respondent. CORAM: Dr.S.RADHAKRISHNAN &S.J.KATHAWALLA JJ. 25th August, 2008 CORAM: Dr.S.RADHAKRISHNAN & S.J.KATHAWALLA JJ. 25th August, 2008 P.C. P.C. 1. Heard the learned Counsel appearing for the appellant and the learned Counsel appearing for the respondent. 2. Mr.Tripathi, learned counsel appearing for the respondent very fairly states that the question of law referred to this Court in the above reference has already been answered against the assessee and in favour of the revenue by the judgment of this Court in Commissioner of Income Tax Vs.Mercantile Bank Ltd. reported in 237 ITR 676. Accordingly the question of law referred to this Court by the above reference is answered in favour of the revenue and against the assessee. -2- (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.)