- (1.) THE Tribunal, Jaipur by order dt. 12th June, 1998, has referred following question under s. 256(1) of the IT Act, 1961 for opinion of this Court : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding that deductions under ss. 80HH and 80-I are admissible without deducting investment allowance? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that depreciation on generator is admissible at the rate of 30 per cent as against 15 per cent claimed and allowed during the course of assessment proceedings?"
(2.) IT is not in dispute that first question has been answered by the decision of this Court in CIT vs. Surendra Textiles (2002) 172 CTR (Raj) 555 : (2002) 258 ITR 387 (Raj). The second question has been answered by the decision of this Court in CIT vs. Agarwal Transformers (P) Ltd. (2002) 174 CTR (Raj) 103 : (2002) 258 ITR 251 (Raj). In view of this, the aforesaid first question stands answered in favour of the Revenue and against the assessee and the second question stands answered in favour of the assessee and against the Revenue.;