- (1.) The High Court answered the following three questions in the affirmative and in favour of the assessee. The Revenue is in appeal there against by special leave. The three questions read thus : "1.Whether on the facts and in the circumstances of the case, the Tribunal is right in law in upholding the order of the Commissioner (Appeals) who deleted the addition of Rs. 1,30,44,518. 00 being interest receipts and bills charges from contractors by holding that the same are in the nature of capital receipts which would go the reduce capital cost 2. Whether on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in upholding the order of the Commissioner (Appeals) holding that the work in progress is to be treated as opening capital for the purposes of determining the relief admissible under Section 80 J and the assesses is entitled to relief admissible under Section 80j in respect of the said work-in-progress. 3. Whether on the facts and in the circumstances of the case , the Appellate Tribunal is right in upholding the order of the Commissioner (Appeals) holding that the assessee is entitled to investment allowance on the generating station building considering it as 'plant' -
(2.) It is not in dispute that the first two questions must be answered in the affirmative and in favour of the assessee having regard in the judgments of this Court in Commissioner of Income Tax, Bihar v. Bokaro Steel Limited, Bokaro [jt 1998 (8) SC 615 = 1999 (1) SCC 645] and Commissioner of Income Tax v. Alcock Ashdown and Co. Ltd. [jt 1997 (2) SC 278 = 2241. T. R 353] respectively.
(3.) The issue to be decided relates to the third question.;