2016 (12) TMI 412

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Vs. Commissioner of Income Tax (2012 (11) TMI 235 - BOMBAY HIGH COURT), the above Reference related to Assessment Years 1989-90 and 1990-91 in respect of the applicant assessee itself wherein held The mere use of the term 'sinking fund' and the manner in which the assessee treats the same in its accounts is not decisive of the matter. The assessee is not a co-operative society in which case the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... spondent ORDER P. C. 1. By this Reference under Section 256 (1) of the Income Tax Act, 1961 (the Act) the Income Tax Appellate Tribunal has referred the following substantial questions of law for our opinion : (i) Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding the amount appropriated towards the Sinking Funds was a part of the rent .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ned unanswered. 4. So far as question (i) is concerned, Ms. Yasmeen Sabir, very fairly brings to our notice the order of this Court in Income Tax Reference No.78 of 1998 (M/s. M. Visvesvaraya Industrial Research and Development Centre Vs. Commissioner of Income Tax) decided on 25th October, 2012. The above Reference related to Assessment Years 1989-90 and 1990-91 in respect of the applicant ass .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X