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Judgment
Civil Appeal No. 5251 of 2005
This appeal is directed against the judgment and order passed by the High Court of Gujarat at Ahmedabad in Income Tax Reference No. 178 of 1985 dated 15.01.2003.
The substantial question of law, raised in this appeal for our consideration and decision is as under:
Whether the Tribunal has been right in law and on facts in holding that the Assessee is entitled to investment allowance on account of the additional expenditure in the cost of plant and machinery on account of realignment of currency (fluctuations in the currency rate)?
In view of the decision of this Court in the case of Commissioner of Income Tax, Rajkot Vs. Gujarat Siddhi Cement Ltd., in our view, the aforesaid question of law is no more a debatable issue.
Since the issues raised and considered by this Court in the above referred case is identical with the issues raised in this Civil Appeal, we answer the question of law raised and canvassed by the Revenue against the Revenue and in favour of the Assessee.
Accordingly, the Civil Appeal is disposed of.
Ordered accordingly.
ORDER
Leave granted in S.L.P.(C) Nos. 23798 of 2005 and 4587 of 2009. The civil appeals are disposed of in terms of the signed order.