In Itxa/2527/2011 Of The Commissioner Of Income Tax - 4 Mumbai v. Sureshchand S. Jain, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Decision: For the reasons stated therein, the present appeal is 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.289 OF 2010
The Commissioner of Income Tax-4, Mumbai
..Appellant.
V/s.
Sureshchand S. Jain..Respondent.
Mr. Vimal Gupta for the appellant.
None for the respondent.
CORAM : J.P. DEVADHAR AND A.A. SAYED, JJ.
DATED : 21ST OCTOBER, 2011
P.C. :-
Counsel for the revenue fairly states that similar question raised by the revenue in the case of CIT V/s. M/s. Kotak Securities Ltd. [Income Tax Appeal No.3111 of 2009] for AY 2005-06 has been answered by us today i.e. 21st October, 2011 in favour of the assessee. For the reasons stated therein, the present appeal is dismissed with no order as to costs.
(A.A. SAYED, J.)
(J.P. DEVADHAR, J.)
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