| Citation(s) |
|---|
| 2001 SLG 1482 2001 SLD 1482 2001 PTD 2448 (2001) 247 ITR 341 |
Supreme Court of India
C.A. No.5656 of 1998, decision dated: 17-08-2000. (Appeal by special leave from the judgment and order, dated May 28, 1998 of the Karnataka High Court in C.P. No.630 of 1997)
S.P. BHARUCHA, Y.K. SABHARWAL AND S.N. VARIAVA, JJ
Dr. Gauri Shankar, Senior Advocate (Ms. Laxmi Iyengar and Ms. Sushma Suri, Advocates with him) for Appellant. Ms. Asha Gopalan Nir
C.A. No.5656 of 1998, decision dated: 17-08-2000. (Appeal by special leave from the judgment and order, dated May 28, 1998 of the Karnataka High Court in C.P. No.630 of 1997)
S.P. BHARUCHA, Y.K. SABHARWAL AND S.N. VARIAVA, JJ
Dr. Gauri Shankar, Senior Advocate (Ms. Laxmi Iyengar and Ms. Sushma Suri, Advocates with him) for Appellant. Ms. Asha Gopalan Nir
COMMISSIONER OF INCOME TAX
VS
MYSORE MINERALS LTD
Law: Income Tax Act, 1961
Section: 256(2)
Income-tax-----Reference---Investment allowance---Machinery employed in extracting granite, cutting and polishing it---Whether entitled to investment allowance-Question of law---Indian Income Tax Act, 1961, Ss.32A & 256(2). Held, that the question whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that investment allowance was allowable on the machinery employed in the process of extraction of granite from quarry, cutting the same into various sizes and polishing them was a question of law. ORDER The revenue is in appeal against the refusal by the High Court to call for a reference under section 256(2) of the Income Tax Act, 1961, of the following question proposed by it: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that investment allowance is allowable on the machinery' employed in the process of extraction of granite from quarry, cutting the same into various sizes and polishing them?" The High…
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