In Itxa/2488/2011 Of The Commissioner Of Income Tax - -5 v. Bombay Cycle And Motor Agency Ltd, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Decision: In this view of the matter, both the appeals are 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 (LOD) NO.1161 OF 2011ANDINCOME TAX APPEAL (LOD) NO.1163 OF 2011
The Commissioner of Income Tax-, Mumbai
..Appellant.
V/s.
M/s. Bombay Cycle & Motor Agency Ltd.
..Respondent.
Mr. N.A. Kazi with Ms. Padma Divakar for the appellant.Ms. Vasanti B. Patel for the respondent.
CORAM : J.P. DEVADHAR AND A.R. JOSHI, JJ.
DATED : 14TH NOVEMBER, 2011
P.C. :-
Counsel for the parties state that similar question raised by the revenue in the assessee's own case being Income Tax Appeal (Lod) No.1485 of 2008 has been dismissed on 23rd June, 2009 by following the Division Bench judgment of this Court in the case of Mahindra & Mahindra Ltd. V/s. CIT reported in (2003) 261 ITR 501. In this view of the matter, both the appeals are dismissed with no order as to costs.
(A.R. JOSHI, J.)
(J.P. DEVADHAR, J.)
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