-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. Income Tax Reference No.57 of 1995 The Commissioner of Income Tax ..Appellant vs. M/s Naresh Pictures ..Respondents Mr.P.S.Sahadevan for appellant. Mr.B.V.Jhaveri for respondents. CORAM: Dr.S.RADHAKRISHNAN & CORAM: Dr.S.RADHAKRISHNAN & CORAM: Dr.S.RADHAKRISHNAN & S.J.KATHAWALLA JJ. S.J.KATHAWALLA JJ. S.J.KATHAWALLA JJ. 6th August, 2008 6th August, 2008 6th August, 2008 P.C. P.C. P.C. 1. Heard the learned Counsel appearing for the appellant and the learned Counsel appearing for the respondents 2. Both the learned Counsel fairly state that the substantial question of law framed in the above reference is squarely covered by the judgment of this Court in Commissioner of Income Tax Vs.Sadhana Nayar reported in 210 ITR 648. In view thereof the question referred in the above reference is answered in favour of the revenue and against the assessee. Reference stands disposed of accordingly. (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.) (S.J.KATHAWALLA J.) (Dr.S.RADHAKRISHNAN J.)