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.2 OF 1997 INCOME TAX REFERENCE NO.2 OF 1997 INCOME TAX REFERENCE NO.2 OF 1997 M/s.Century Textiles & Industries Ltd...Applicant. V/s. The Commissioner of Income Tax ..Respondent. Mr.S.J.Mehta for applicant. Mr.P.S.Sahadevan i/b. Dhananjay Athawale for respondent. CORAM : V.C.DAGA AND CORAM : V.C.DAGA AND CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. DATED : 21ST APRIL, 2009. DATED : 21ST APRIL, 2009. DATED : 21ST APRIL, 2009. P.C. :- P.C. :- P.C. :- 1. Heard learned counsel for the applicant and the revenue. At this stage, learned counsel appearing for the applicant makes a statement that the question Nos.1, 3 & 4 to 8 referred be returned unanswered as the assessee does not press the same. 2. So far as the second question is concerned, both the parties agree that the said question is covered by the judgment of the Supreme Court in the case of Bharat Earth Movers V/s. Commissioner of Bharat Earth Movers V/s. Commissioner of Bharat Earth Movers V/s. Commissioner of Income Income Income reported in 245 I.T.R. 428 245 I.T.R. 428 245 I.T.R. 428. In this view of the matter, for the reasons stated therein the said question is answered in favour of the assessee and against the revenue. The reference is disposed of accordingly with no order as to costs. (J.P.DEVADHAR, J. (J.P.DEVADHAR, J. (J.P.DEVADHAR, J. (V.C.DAGA, J.) (V.C.DAGA, J.) (V.C.DAGA, J.)