1993 (7) TMI 112

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....., 1992, request the Tribunal to refer, for the esteemed opinion of the Hon'ble J&K High Court, questions mentioned hereinafter, said to be referable questions of law and further stated to be arising out of consolidated order dt. 24th July, 1992 of Chandigarh Bench, Camp Jammu, of the Tribunal in ITA No. 290(Asr)/1987 for the asst. yr. 1983-84 and ITA No. 209/ASR/1987 for the asst. yr. 1983-84: ....

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....ing Officer to grant investment allowance on transformer? (ii) Whether the Tribunal has not failed to appreciate that the transformer was used mainly in the production of alcoholic drinks which is listed in the Eleventh Schedule and its incidental use in the manufacture of ice did not earn for the assessee the deduction under s. 32A? (iii) Whether the Tribunal was justified in law in holding....

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....butable to the above observations of the Bench. On careful perusal, it is seen that the Bench confirmed the deletion after holding that the payees had been identified and transactions were genuine. The findings are seen to have been recorded in this factual position. From such findings in such factual position, no referable question of law arises out of the Tribunal's order. We hold accordingly. ....

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....ernational Instruments P. Ltd. vs. CIT (1979) 9 CTR (Kar) 291 : (1980) 123 ITR 11 (Kar) was pressed into service to rebut the stand of the Assessing Officer. The CIT(A), relying upon the decision of the Calcutta High Court in CIT vs. Dunlop Rubber Co. (I) Ltd. (1977) 107 ITR 182 (Cal); CIT vs. Rohtas Industries Ltd. (1979) 120 ITR 110 (Cal) and CIT vs. Harinkhola Ice & Cold Storage Ltd. (1981) 23 ....