In Itxa/1474/2009 Of The Commissioner Of Income Tax -2 Mumbai v. Nachik Colour Pvt. Ltd, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Decision: For the reasons state therein, the present appeals are also dismissed with no order as to costs.
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
INCOME TAX APPEAL NO.4805 OF 2010 WITHINCOME TAX APPEAL (LOD) NO.2905 OF 2009 WITH
INCOME TAX APPEAL NO.1474 OF 2009
The Commissioner of Income Tax-2, Mumbai
..Appellant.
V/s.
M/s. Nachik Colours Pvt. Ltd.
..Respondent.
Mr. Vimal Gupta for the appellant.
Mr. S.E. Dastur with Mr. P.J. Pardiwala, senior Advocates with Madhur Agarwal with A.K. Jasani for the respondent.
CORAM : J.P. DEVADHAR AND K.K. TATED, JJ.
DATED : 26TH SEPTEMBER, 2011
P.C. :-
Counsel for the parties state that similar question raised by
the revenue in the case of CIT V/s. Hardik Paints Pvt. Ltd. [Income Tax Appeal No.2727 of 2009] and CIT V/s. Hindustan Pencil Ltd. [Income Tax Appeal No.2338 of 2009 with Income Tax Appeal No.2339 of 2009]
have been dismissed by this Court by orders dated 21/2/2011. For the reasons state therein, the present appeals are also dismissed with no order as to costs.
(K.K. TATED, J.)
(J.P. DEVADHAR, J.)
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