IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.47 OF 1995 INCOME TAX REFERENCE NO.47 OF 1995 INCOME TAX REFERENCE NO.47 OF 1995 Ahmednagar Forgings Ltd. .. Applicant Vs. CIT Nashik .. Respondent Ms.Usha Dalal with Mr.G.Misquitta i/by M/s.Eastley Lam & Co. for the Appellant. Mr.Vimal Gupta for the Respondent. CORAM :- DR.S.RADHAKRISHNAN & CORAM :- DR.S.RADHAKRISHNAN & CORAM :- DR.S.RADHAKRISHNAN & S.J.KATHAWALLA, JJ. S.J.KATHAWALLA, JJ. S.J.KATHAWALLA, JJ. DATE : 28th August, 2008 DATE : 28th August, 2008 DATE : 28th August, 2008 P.C. P.C. P.C. 1. Heard the learned Counsel for the parties. The learned Counsel for the Applicant pointed out a judgment of this Court dated 20.12.1991 in the case of CIT V/s.Industrial Development & Investment Corporation Private Limited in ITA 743/1991, wherein this Court has rejected a reference application raising the question - whether the bonus paid under an agreement with workers in excess of statutory provisions under the Payment of Bonus Act was allowable as business expenditure?. Against that order the CIT had preferred SLP before the Hon’ble Supreme Court, which also came to be dismissed by the Supreme Court on 27.8.1992. In view thereof, the Applicant is at liberty to approach the ITAT for an appropriate relief. Tribunal to consider the same in accordance with law. Reference stands disposed of. (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.) (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.) (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.)