IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITR No.93 of 1996 Date of decision:29.5.2008 The Commissioner of Income-tax, (Central) Ludhiana ......Applicant Versus M/s Bahadur Chand Investment (P) Ltd., Ludhiana ......Respondent CORAM:- HON'BLE MR.JUSTICE RAJIVE BHALLA HON'BLE MR.JUSTICE RAKESH KUMAR GARG * * * Present: Shri Krishan Mehta, Advocate for the applicant-revenue. Shri Akshay Bhan, Advocate for the respondent-assessee. * * * Rakesh Kumar Garg, J . On the application filed by the revenue, the Tribunal vide its order dated 22.1.1996 passed in RA No.247/Chandi/1995 arising out of ITA No.542/Chandi/1990 for the assessment year 1986-87 has referred the following question of law said to be arising out of the Tribunal's order dated 9.3.1995, to this Court for its opinion:- “Whether on the facts and in the circumstances of the case, the Income-Tax Appellate Tribunal was right in law in holding that the assessee be treated as an “Industrial Company” and that the tax be charged at low rate applicable to an Industrial Company?” Sh. Krishan Mehta, learned counsel for the revenue, has very fairly stated that similar question of law on similar facts has been answered by this Court against the revenue in ITR No.287 of 1995 decided on 21.5.2008. ITR No.93 of 1996 -2- In view of the above, question of law as referred by the Tribunal is answered against the revenue and in favour of the assessee. The reference application is disposed of accordingly. (RAKESH KUMAR GARG) JUDGE May 29, 2008 (RAJIVE BHALLA) ps JUDGE