COMMISSIONER OF INCOME TAX Vs. POPULAR AUTOMOBILES LTD

JUDGEMENT

(1.) THE following question of law is referred to this Court pursuant to the directions issued by this Court in the judgment dt. 7th Oct., 1994, in O.P. No. 722/1993 for decision :

(2.) WE have heard the learned standing counsel appearing for the applicant. Though notice was served on the respondent, there is no appearance. The standing counsel submitted that the question is covered by the decision of the Supreme Court in CIT v. N.C. Budharaja and Co. and Anr. Etc. : [1993]204ITR412(SC) . We have gone through the said judgment and we find that the Supreme Court has held that Sub -clause (iii) of Clause (b) of Sub -section (2) of Section 32A does not comprehend within its ambit construction of a dam, a bridge, a building, a road, a canal and other, similar constructions.