In Itxa/2105/2009 Of The Commissioner Of Income Tax-20 Mumbai v. M/S. Systematic Exports, the High Court (2009) allowed the appeal. The decision went in favour of the Revenue.
Decision: Accordingly, the appeal is partly allowed.
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.2105 OF 2009
The Commissioner of Income Tax
..Appellant.
V/s.
M/s. Systematic Exports
..Respondent.
Mr. Suresh Kumar for appellant.
Mr. S.J. Mehta for respondent.
CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 17TH NOVEMBER, 2009.
P.C. :-
Heard learned counsel for both the parties. Both the parties admit that the appeal can be disposed of finally since the issue sought to be raised is covered by the judgment of the Supreme Court in favour of the revenue in the case of Liberty India V/s. CIT reported in [2009] 317 ITR 218 (SC). In this view of the matter, the questions sought to be raised in the appeal is answered in favour of the revenue for the reasons stated in the judgment of the Apex Court in the case of Liberty India (supra). Accordingly, the appeal is partly allowed. No order as to costs.
(J.P.DEVADHAR, J.)
(V.C.DAGA, J.)
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