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Judgment
4 paragraphs · 110 words
S.P. Bharucha, J.—The question to be considered in this reference reads thus :
"Whether, on the facts and in the circumstances of the case, and on a proper construction of Section 33(1) of the Income Tax Act, 1961, development rebate was admissible on data processing equipment ?"
2.
Counsel are agreed that two judgments of this court, viz., Commissioner of Income Tax, Bombay City-I Vs. I.B.M. World Trade Corporation, and Commissioner of Income Tax Vs. International Computers Ltd., , determine the answer to be given to the question. Following these judgments, the question is answered in the affirmative and in favour of the assessee.
3.
No order as to costs.