V.K.SINGHAL, J. - (1.) ALL the above listed Reference Applications are being disposed of by this common order as the question of law involved in all of them is identical. For the purpose of disposal of the aforesaid applications, the facts of D.B. IT Ref. Appl. No. 52/1993 shall be taken up.
(2.) IN this application under s. 256(2) of the IT Act, 1956 the Revenue has prayed that the following question of law arises out of the order of the Tribunal dt. 27th Dec., 1991 in respect of asst. yr. 1983-84 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing not to deduct the amount of subsidy from the cost of assets for the purpose of the depreciation/investment allowance" ? Arguments of the learned counsel have been heard. The matter stands concluded by the decision of the Apex Court in the case of CIT vs. P.J. Chemicals Ltd. (1994) 121 CTR (SC) 201 : (1994) 210 ITR 830 (SC) wherein it has been held by the apex Court that the amount of subsidy is not to be deducted from the cost of the assets for the purpose of depreciation/investment allowance. Since the matter stands already covered by the decision of the apex Court we do not consider that any useful purpose would be served by directing the Tribunal to refer the above question to this Court. Consequently, the Reference Application is dismissed.;