Abhay Manohar Sapre, J.

1.

Leave granted.

2. This appeal is filed against the final judgment and order dated 01.08.2017 passed by the High Court of Judicature at Bombay in ITA No.599/2015 whereby the High Court dismissed the appeal filed D AS ig H ita O ll K y s R ig A n J e S d I N by GH by the appellant herein.

Date: 2019.03.15 Reason:

3.

This appeal involves a short point as would be clear from the facts stated infra.

4. The appellant is the Union of India (Income Tax Department) and the respondent-Bank is the assessee.

5. In the course of assessment proceedings of the respondent-assessee(Bank) for the Assessment Year 2007-2008, the question arose as to whether the respondent-assessee(Bank) was entitled to claim deduction under Section 35-D of the Income Tax Act, 1961 (for short, “the Act”) for the Assessment Year in question. In other words, the question arose as to whether the respondent-Bank is an industrial undertaking so as to entitle them to claim deduction under Section 35-D of the Act.

6. The case of the respondent was that they, being an industrial undertaking, are entitled to claim the deduction under Section 35-D of the Act.

The Assessing Officer passed an order dated 3