COMMISSIONER OF INCOME TAX Vs. STERLITE CHEMICAL
LAWS(DLH)-2007-9-393
HIGH COURT OF DELHI
Decided on September 06,2007

COMMISSIONER OF INCOME TAX Appellant
VERSUS
Sterlite Chemical Respondents

JUDGEMENT

- (1.) FOR the asst. yr. 1981 -82, the following question of law has been referred for our opinion : "Whether on the facts and in the circumstances of the case, the Tribunal was correct both on facts and in law in holding that the value of the subsidy of Rs. 2,83,500 should not be reduced from the cost of the plant and machinery for the purpose of allowing depreciation, investment allowance and relief under s. 80 -J of the IT Act -
(2.) IN view of the decision of the Supreme Court in CIT vs. P.J. Chemicals Ltd. (1994) 121 CTR (SC) 201 : (1994) 210 ITR 830 (SC), the question of law is required to be answered in the affirmative, in favour of the assessee and against the Revenue.
(3.) UNDER the circumstances, the reference is disposed of accordingly.;


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