Calcutta High Court
Universal Cables Ltd vs C.I.T.;W.B.-Ii;Cal on 23 December, 2008
Author: Pinaki Chandra Ghose
Bench: Pinaki Chandra Ghose
ITP No. 4 of 1997
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction(Income Tax)
ORIGINAL SIDE
UNIVERSAL CABLES LTD. Plaintiff/Petitioner/Applicant
Versus
C.I.T.;W.B.-II;CAL. Defendant/Respondent
BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE The Hon'ble JUSTICE SANKAR PRASAD MITRA Date : 23rd December, 2008.
The Court : Learned Tribunal is directed to send the reference on the following two questions within a period of two weeks from the date of communication of this order:
"1. Whether on the facts and in the circumstances of the case the Tribunal was justified in not allowing the assessee company even proportionate deduction during the year on account of premium payable on debentures issued by the company during assessment year 1984-85?
2. Whether on the facts and in the circumstances of the case the Tribunal was justified in holding that cash subsidy of Rs.5,72,000/- received in earlier year on generator is deductible from its cost for the purpose of computing depreciation allowable to the assessee company during the year ?"
Let a copy of this order be served on the Tribunal. Let the matter appear in the list two weeks after vacation.
All parties concerned including the learned Tribunal are to act on a signed copy of the minutes of this order on the usual undertakings. Urgent xerox certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(PINAKI CHANDRA GHOSE, J.) (SANKAR PRASAD MITRA, J.) km