IN THE HIGH COURT OF GUJARAT AT AHMEDABAD INCOME TAX REFERENCE No 121 of 1987 For Approval and Signature: Hon'ble MR.JUSTICE A.R.DAVE Sd/- and Hon'ble MR.JUSTICE D.A.MEHTA Sd/- ============================================================ 1. Whether Reporters of Local Papers may be allowed : NO to see the judgements? 2. To be referred to the Reporter or not? : NO 3. Whether Their Lordships wish to see the fair copy : NO of the judgement? 4. Whether this case involves a substantial question : NO of law as to the interpretation of the Constitution of India, 1950 of any Order made thereunder? 5. Whether it is to be circulated to the Civil Judge? : NO -------------------------------------------------------------- VIMLA SIDDHARTHBHAI Versus COMMISSIONER OF INCOME-TAX -------------------------------------------------------------- Appearance: 1. INCOME TAX REFERENCE No. 121 of 1987 MR MANISH J.SHAH FOR MR JP SHAH for Applicant. MR AKIL QURESHI FOR MR RP BHATT for Respondent No. 1 -------------------------------------------------------------- CORAM : MR.JUSTICE A.R.DAVE and MR.JUSTICE D.A.MEHTA Date of decision: 31/07/2001 ORAL JUDGEMENT (Per : MR.JUSTICE A.R.DAVE) 1 At the instance of the assessee, the following question has been referred to this Court for its opinion under the provisions of Section 256(1) of the Income Tax Act,1961 "Whether on the facts and in the circumstances of the case the interest paid to Taral and Swati was deductible under section 80-V or section 57(3) of the I.T.Act,1961 ?" 2. Learned Advocate Mr.Manish.J.Shah has appeared for the assessee whereas learned Advocate Mr.Akil Qureshi has appeared for the respondent. 3. It has been submitted by the learned Advocate that in the case of Vimla Siddhartbhai Vs. C.I.T., I.T.R. No.11 of 1984 decided on 19/6/1998, similar question of law had been referred to this Court. We have perused the said judgment. Looking to the law laid down in the said judgment we answer the question in the negative i.e. in favour of the revenue and against the assessee. 4. The Reference stands thus disposed of accordingly with no order as to costs. Sd/- Sd/- (A.R.Dave, J) (D.A.Mehta,J) m.m.bhatt