ITR No. 145 of 1989 (O&M) 1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITR No. 145 of 1989 (O&M) Date of decision: October 27, 2009 Industrial Cables (India) Limited, Rajpura ...Appellant Versus The Commissioner of Income Tax, Patiala ...Respondent CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL HON'BLE MR. JUSTICE GURDEV SINGH Present: Mr. Animesh Sharma, Advocate, for the assessee. None for the revenue. ORDER At the instance of the assessee, the Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh, has referred the following two questions of law arising out of its order dated 22nd April, 1988 in cross appeals being I.T.A. Nos. 222 & 305 and cross objection 39 of 1985 relating to the assessment year 1979-80, for the opinion of this Court:- “1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that no weighted deduction under Section 35B (1) (b) (viii) of the Income Tax Act, 1961 (for short 'the Act') is admissible on account of ocean freight ? 2. Whether, on the facts and in the circumstances of the cases, the Tribunal was right in law in holding that the amount of Rs. 31,56,238/- on account of sale of import entitlements represented receipts liable to income-tax and not capital receipt ?” ITR No. 145 of 1989 (O&M) 2 In view of the judgment of the Full Bench dated 3.7.2009 in Commissioner of Income-Tax Versus Roadmaster Industries of India (P.) Limited, [2009] 315 ITR 66 (P&H), the questions referred are answered in favour of the revenue and against the assessee. Reference is disposed of accordingly. (ADARSH KUMAR GOEL) JUDGE October 27, 2009 (GURDEV SINGH ) prem JUDGE ITR No. 145 of 1989 (O&M) 3 Note:- Whether this case is to be referred to the Reporter .....Yes/No