T.D. Sugla, J.
1. This reference at the instance of the Revenue raises only one question. The question reads thus:
"Whether, on the facts and in the circumstances of the case, it was rightly held that the written down value of the assessees assets acquired prior to April 1, 1961, and the actual cost thereof should be taken as per the provisions of the Indian Income Tax Act, 1922, and not as per the provisions of the Income Tax Act, 1961, for the assessment years 1970-71 and 1971-72 "
2. Counsel are agreed that the issue herein is covered by the decision of the assessees own case in CIT v. Bassein Electric Supply Co. Ltd. : [1979]118ITR884(Bom) , and in view thereof, the question is to be answered in the negative and in favour of the Revenue.
3. The question is so answered.
4. No order as to costs.
Commissioner Of Income Tax v. Bassein Electric Supply Company Limited
Commissioner Of Income Tax v. Bassein Electric Supply Company Limited
(High Court Of Judicature At Bombay)
Income Tax Reference No. 155 Of 1976 | 06-12-1988
Advocate List
Bench
- HONBLE JUSTICE S.P. BHARUCHA
- HONBLE JUSTICE T.D. SUGLA, JJ.
Eq Citations
- [1989] 177 ITR 482 (BOM)
- LQ/BomHC/1988/668
Head Note
Income Tax Act, 1961 — S. 43(1) — WDV of assets acquired prior to 1-4-1961 — Assessee's own case, CIT v Bassein Electric Supply Co, 1979118ITR884, held applicable
