IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO. 208 OF1996. The Commissioner of Income-tax, Bombay City-II, Bombay. ..Applicant. V/s. Tata Engg. & Locomotive Co.Ltd ... Respondent. Shri Ashok Kotangale with G. Hariharan for the applicant. Shri P.C. Tripathi for the respondent. CORAM CORAM CORAM : V.C.DAGA AND J.P. DEVADHAR, JJ. : V.C.DAGA AND J.P. DEVADHAR, JJ. : V.C.DAGA AND J.P. DEVADHAR, JJ. DATED DATED DATED : 29th August 2005. : 29th August 2005. : 29th August 2005. P.C. P.C. P.C. : : : ---- ---- ---- . This is a reference under section 256 (1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal has referred the following question of law for the opinion of this Court: Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the computation of disallowance u/s 40A(5)/40(c) of the I.T. Act in respect of expenditure incurred on payment of end of service benefits, a separate overall limit of Rs.60,000/- will apply? . Learned Counsel for the parties agreed that the above question is already answered by the Division Bench of this Court in the case of CIT CIT CIT vs.Hico vs.Hico vs.Hico Products Ltd. (1993) 201 ITR 567 (Bom) Products Ltd. (1993) 201 ITR 567 (Bom) Products Ltd. (1993) 201 ITR 567 (Bom) in the affairmative i.e. in favour of the assessee and against the Revenue. In this view of the matter, we answer the above question in the affirmative i.e. in favour of the assessee and against the Revenue. . Reference accordingly stands disposed of with no order as to costs. (J.P. (J.P. (J.P. DEVADHAR,J.) DEVADHAR,J.) DEVADHAR,J.) (V.C. (V.C. (V.C. DAGA,J.) DAGA,J.) DAGA,J.)