THE HON'BLE SRI JUSTICE B. PRAKASH RAO AND THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN REFERENCE CASE No.116 OF 1997 ORDER: (Per Hon’ble Sri Justice Ramesh Ranganathan The questions, referred by the Tribunal for our opinion, read as under: 1. “Whether, on the facts and in the circumstances of the case, the income by way of (i) Supervisory Charges, (ii) Miscellaneous Receipts, (iii) interest on Bank Deposits, (iv) Lease Rent and (v) Fumegation Charges are not includible under sec.10(29) of the Income-tax Act, 1961”. 2. “Whether, on the facts and in the circumstances of the case, the Tribunal is justified in denying the assessee’s claim for set-off all the expenditure against the taxable income (even though a part thereof was attributable to income which is not inlcudible under sec.10(29) of the Income-tax Act, 1961”. Both Sri S.R. Ashok, Learned Senior Counsel appearing on behalf of the revenue and Sri Y. Ratnakar, Learned Counsel appearing on behalf of the assessee i.e., A.P. State Warehousing Corporation, Hyderabad would agree that both the aforementioned questions have been answered in favour of the revenue and against the assessee in A.P. Warehousing Corporation v. The Commissioner of Income-tax[1]. Following the judgment of this Court in A.P. Warehousing Corporation1, both the questions are answered in favour of the revenue and against the assessee. The reference case is disposed of accordingly. ______________________ B. PRAKASH RAO,J ____________________________ 15.06.2010 RAMESH RANGANATHAN,J MRKR [1] R.C. No.223 of 1996, dated 20.11.2009