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C.I.T. v. M/S G. Cold Storage - INCOME TAX REFERENCE No. 56 of 1991  RD-AH 1096 (20 April 2005)
INCOME TAX REFERENCE NO.56 OF 1991
The Commissioner of Income-tax, Meerut. ....Applicant
M/s Govind Cold Storage and General
Mills, Muzaffarnagar. ....Respondent
Hon'ble R.K. Agrawal, J.
Hon'ble Rajes Kumar, J.
The Income Tax Appellate Tribunal, New Delhi has referred to following question of law under section 256 (1) of the Income Tax Act, 1961, (hereinafter referred to as "the Act") for opinion of this Court.
"Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessment order made by the Inspecting Assistant Commissioner granting Investment Allowance in respect of plant and machinery installed in a cold storage was erroneous and prejudicial to the interest of Revenue ?"
The present Reference relates to the Assessment Year 1982-83.
Briefly stated the facts giving rise to the present Reference are as follows:
We find that in view of the decision of the Apex Court in the case of Delhi Cold Storage P. Ltd. Vs. CIT, reported in 191 ITR, 656 has held that a cold storage is not entitled for investment allowance under section 32-A of the Act. Thus the order passed by Inspecting Assistant Commissioner granting investment allowance under section 32-A of the act was rightly held to be erroneous and prejudicial to the interest of Revenue.
Respectfully following the aforesaid decision, we answer the question referred to us in the affirmative, i.e. in favour of Revenue and against the assessee. However, there shall be no order as to costs.
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