2008 (8) TMI 924

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n the case of Commissioner of Income-Tax v. Emirates Commercial Bank Ltd. now reported in (2003) 262 ITR 55 (Bom.). The assessment years in question are 1983-84 and 1984-85. The following four questions of law said to be arising out of the order of the Income Tax Appellate Tribunal were referred to the High Court under Section 256(1) of the Income-tax Act, 1961, for its opinion:   "(1) ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Branch Office of the assessee in India?"   The same questions have been raised before us in this appeal as well. Questions nos.(1) and (2) have already been answered by the High Court in favour of the Revenue and against the assessee in view of the judgment of the High Court in the case of Citibank N.A., Bombay v. C.I.T. decided on 5th March 2003 vide Income-Tax Reference No.5 of 1994.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t inclined to go into the same. It was also not disputed either before the Tribunal or in the High Court as to whether the computers are plant or not. Since this point was also not raised, we do not permit learned ASG appearing for the Revenue to raise the point as to whether the computers are plant or not. The High Court has recorded a finding that data processing amounts to manufacture or ....