In Industrial Corporation Ltd v. Cit, the High Court (2009) dismissed the appeal. The decision went in favour of the Revenue.
Decision: For the same or similar reasons we find no merit in these appeals which are accordingly dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
1. INCOME TAX APPEAL (L) NO.672 OF 2007
2. INCOME TAX APPEAL (L) NO.673 OF 2007
3. INCOME TAX APPEAL (L) NO.674 OF 2007
4. INCOME TAX APPEAL (L) NO.676 OF 2007
5. INCOME TAX APPEAL (L) NO.677 OF 2007
(SERIAL NOS.29 TO 33)
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Office Notes, Office
Memorandum of coram Court’s or Judge’s orders
appearance court orders
directions & P.S.orders
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Mr.P.S.Sahadevan for the appellants.
Mr.A.K.Jasani for the respondents.
Coram : F.I.Rebello & R.S.Mohite,JJ
Date : 13.3.2009.
PC
1. All these appeals arise from a
common order of the Tribunal dated
30.10.2006. In respect of one of the
appeals being Income-tax Appeal No.897
of 2007 placing reliance on the
judgment of the Supreme Court in Madras
Industrial Corporation Ltd., Vs. CIT
reported in 225 ITR 802 (SC) the
learned bench was pleased to dismiss
that appeal.
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2. For the same or similar reasons we
find no merit in these appeals which
are accordingly dismissed.
(R.S.Mohite,J) (F.I.Rebello,J)
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