In Commissioner Of Income Tax v. Kalpataru Colours, the High Court (2010) decided the matter.
Decision: 2In this view of the matter, the impugned order of the ITAT dated 18[th] March, 2008 in ITA No.2291/M/2007 relating to Assessment Year 1998-99 is quashed and set aside and the matter is restored to the file of ITAT for deciding the question afresh and to dispose of the same in accordance with law.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 208 OF 2010
The Commissioner of Income-Tax-6,Mumbai...Appellantvs.M/s.Metropolitan Eximchem P.Ltd....Respondent
Mr.J.S. Saluja for the Appellant.Ms.Aasifa Khan i/b. Mr.Ashok J. Patil for the Respondent.
CORAM : J.P. DEVADHAR AND
MRIDULA BHATKAR, JJ.
DATED : DECEMBER 1, 2010
P.C. :-
1The learned Counsel for the parties state that the question raised in this appeal is covered by the devision of this Court in the case of
Commissioner of Income Tax vs. Kalpataru Colours &
Chemicals Ltd. Reported in (2010) 233 CTR REPORTS
313.
2In this view of the matter, the impugned order of the ITAT dated 18[th] March, 2008 in ITA No.2291/M/2007 relating to Assessment Year 1998-99 is quashed and set aside and the matter is restored to the file of ITAT for deciding the question afresh and to dispose of the same in accordance with law.
(MRIDULA BHATKAR, J.)
(J.P. DEVADHAR, J.)
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