COMMISSIONER OF INCOME TAX Vs. GAMMON INDIA LTD

JUDGEMENT

(1.) THE following questions have been referred to us by the Tribunal at the instance of the Revenue under s. 256(1) of the IT Act, 1961 : Asst. yr. 1974-75 :

(2.) SO far as first two questions are concerned, the admitted position is that as back as on 2nd Nov., 1972 in assessee's own case, the Tribunal had decided the issue in favour of the assessee by holding that the barges were ships and the assessee was entitled to development rebate at the rate of 25% thereon. This fact was brought to the notice of the ITO at the time of hearing. It was also pointed out to him that the Department's reference applications had also been rejected in the assessee's own case. The ITO, however, did not follow the order of the Tribunal as, according to him, the Revenue has not accepted the order of the Tribunal. It appears that before the Tribunal also at the time of hearing of application for reference it was stated by the Revenue that though the point is covered by the order of the Tribunal in the assessee's own case in respect of earlier years, they wanted to keep the matter alive by getting the question referred to the High Court.

(3.) THIS reference is disposed of accordingly.