Gujarat High Court
Gobind Glass & Industries Ltd vs Dy.C.I.T.(Asstt) on 13 March, 2002
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No 12 of 2002
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GOBIND GLASS & INDUSTRIES LTD.
Versus
DY.C.I.T.(ASSTT)
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Appearance:
1. TAX APPEAL No. 12 of 2002
MR JP SHAH for Petitioner No. 1
.......... for Respondent No. 1
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CORAM : MR.JUSTICE R.K.ABICHANDANI
and
MR.JUSTICE KUNDAN SINGH
Date of Order: 13/03/2002
ORAL ORDER
(Per : MR.JUSTICE R.K.ABICHANDANI) Admit. The following substantial questions of law arising from the order of the Tribunal are formulated :
(1) Whether on the facts and in circumstances of the case, Rs.4,20,66,275=00 spent on furnace is deductible revenue expenditure under section 37(i) of the Income Tax Act, 1961?
(2) If the reply to question No.1 is in the negative, whether the said expenditure is allowable under section 31(i) even if it is capital expenditure?
MARCH 13, 2002[R.K.ABICHANDANI, J.] [KUNDAN SINGH, J.] parmar*