The Commissioner Of Income-Tax,Mumbai City I, Mumbai v. M/S. Tata Engineering & Locomotiveco.ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX REFERENCE NO. 228 of 1994 The Commissioner of Income-Tax,Mumbai City I, Mumbai : Appellant v/s M/s. Tata Engineering & LocomotiveCo.Ltd. : Respondents Mr. P.S. Sahadevan Advocate for appellant Mr. P.C. Tripathi with Mr. Dinesh Vyas sr.advocatefor respondents Coram : Dr.S. RadhakrishnanS.J. Kathawalla, JJ.Date: 23.7.2008 P.C..Heard learned counsel for the appellant andthe learned counsel for the respondents. The learnedcounsel for the appellant and the learned counsel forthe respondents categorically state that the questonof law referred to in the above reference is squarelycovered against revenue in the case of (196 ITR page149) Commisioner of Income Tax vs Gwalior Rayon SilkManufacturing Co. ltd. Hence the question of law referred to in the above is answered in favour of the assessee and against the revenue. (S.J. Kathawalla,J.) (Dr.S. Radhakrishnan,J.)