COMMISSIONER OF INCOME TAX Vs. SURYA INDUSTRIES LTD.
LAWS(DLH)-2007-8-259
HIGH COURT OF DELHI
Decided on August 08,2007

COMMISSIONER OF INCOME TAX Appellant
VERSUS
Surya Industries Ltd. Respondents

JUDGEMENT

- (1.) THE following question of law has been referred for our opinion under s. 256(1) of the IT Act, 1961 : "Whether on the facts and in the circumstances of the case, the Tribunal has erred in directing the AO to allow investment allowance to the assessee company which is a leasing company on the machinery or plant leased by it to the third party and also in directing the AO to consider the assessee's claim regarding brought forward investment allowance of earlier years -
(2.) THE admitted position is that in view of the decision of the Supreme Court in CIT vs. Shaan Finance (P) Ltd. (1998) 146 CTR (SC) 110 : (1998) 231 ITR 308 (SC), the question of law is required to be answered in the affirmative in favour of the assessee and against the Revenue.
(3.) THE reference is disposed of accordingly.;


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