AGK AGK AGK 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.308 OF 1998 The Commissioner of Income-tax, Bombay City - I, Bombay .. Applicant. V/s. Yash Raj Films (P) Ltd. .. Respondent. Mr.Suresh Kumar for the applicant. CORAM : V.C. DAGA & CORAM : V.C. DAGA & CORAM : V.C. DAGA & J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. DATED : 11TH OCTOBER, 2005. DATED : 11TH OCTOBER, 2005. DATED : 11TH OCTOBER, 2005. P.C. : 1. Heard the learned counsel for the applicant. The Tribunal has referred following question for the opinion of this Court reading as under :- Whether in the facts and in the circumstances of the case, the Tribunal was right in law in holding that each movie in the case of a producer was a separate and independent industrial undertaking and consequently holding that the provisions of section 37(3D) of the I.T. Act, 1961 were applicable to the assessee ? 2. The above question has already been answered by the Division Bench of this Court in the case of CIT V/s. S.M. Sagar [(2003) 261 ITR 271 (Bom)] CIT V/s. S.M. Sagar [(2003) 261 ITR 271 (Bom)] CIT V/s. S.M. Sagar [(2003) 261 ITR 271 (Bom)] in favour of the assessee and against the revenue. In this view of the matter, question stands answered in affirmative for the reasons stated in the case of S.M. Sagar. Reference, accordingly stands disposed of with no order as to costs. *********