COMMISSIONER OF INCOME TAX Vs. WESTERWORK ENGINEERS LTD

JUDGEMENT

(1.) BY this reference under s. 256 (1) of the IT Act, 1961, the Tribunal, has referred the following questions of law for opinion :

(2.) LEARNED counsel for the Revenue submits that the above questions are covered by decisions of this Court and the Supreme Court in favour of the assessee. Having regard to the above statement of the learned counsel for the Revenue, we answer the questions as follows : question No. 1 is covered by decision of the Supreme Court in Alembic Chemical Works Co. Ltd. vs. CIT (1989) 77 CTR (SC) 1 : (1989) 177 ITR 377 (SC) and following the same, we answer the said question in the affirmative, i. e. , in favour of the assessee and against the revenue. Question No. 2 is covered by decision of this Court in CIT vs. Hico Products Pvt. Ltd. (1993)112 CTR (Bom) 35 : (1993) 201 ITR 567 (Bom) and following the same, we answer the said question in the affirmative, i. e. , in favour of the assessee and against the Revenue. Question No. 3 is covered by decision of the Supreme Court in Scientific Engineering House pvt. Ltd. vs. CIT (1985) 49 CTR (SC) 386 : (1986) 157 ITR 86 (SC) and following the same, we answer the said question in the affirmative, i. e. , in favour of the assessee and against the revenue.

(3.) NO order as to costs.