V.V.S. Rao, J.

These two Referred Cases can be disposed of by a common order as they arise out of the assessment of income tax of the same assessee, namely, M/s.O.R.Distilleries Ltd., Tirupathi.

In R.C.No.254 of 1996, the Income Tax Appellate Tribunal (ITAT) referred the following questions under Section 256(1) of the Income Tax Act, 1961 (the Act), for opinion of this

Court.

1. Whether on the facts and in the circumstances of the case, the ITAT is correct in holding that the article or thing, viz., alcohol including rectified spirit and denatured spirit manufactured by the assessee-company do not come under the ambit of Eleventh Schedule of the I.T.Act, 1961?

2. Whether on the facts and in the circumstances of the case, the ITAT is correct in law in holding that the assessee company is entitled to investment allowance u/s.32A of the I.T.Act, 1961 for the asst.year 86-87?

In R.C.No.77 of 1997 the ITAT referred the following two questions for the opinion of this Court.

1. Whether on the facts and in the circumstances of the case, the ITAT is correct in holding that the article or thing, viz., alcohol including rectified spirit and de-natured spirit manufactured by the asses