IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO. 81 OF 1995 The Commissioner of Income Tax, Bombay .. Applicant V/s. 20th Century Finance and Consultancy Services Pvt. Ltd., Bombay-21 .. Respondent Mr. R.V. Desai, Sr. Advocate with Ms. S.V. Bharucha for the Applicant None present for the Respondent CORAM : S. RADHAKRISHNAN & CORAM : S. RADHAKRISHNAN & CORAM : S. RADHAKRISHNAN & J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. DATED : 28.02.2005 DATED : 28.02.2005 DATED : 28.02.2005 P.C.:- P.C.:- P.C.:- 1. Heard the learned counsel for the Applicant. The question referred to reads as under:- "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in upholding the order of the Commissioner of Income Tax (Appeals) holding that the assessee is entitled to investment allowance on plant and machinery, which is leased in the course of the business of the assessee?" 2. The learned counsel for the Applicant fairly states that the question involved in the above is squarely covered by a judgment of the Supreme Court in CIT v. CIT v. CIT v. Shaan Finance (P) Ltd. (1998) 231 ITR 308 (SC) Shaan Finance (P) Ltd. (1998) 231 ITR 308 (SC) Shaan Finance (P) Ltd. (1998) 231 ITR 308 (SC). In view thereof, the question is answered in the affirmative, i.e. in favour of the assessee and against the Revenue. (S. RADHAKRISHNAN, J.) (S. RADHAKRISHNAN, J.) (S. RADHAKRISHNAN, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.)