In Itxa/3968/2010 Of Comm. Of Income-Tax, City-Iii, Mum v. Industrial Credit And Investment Corpn. Ltd, the High Court (2007) dismissed the appeal. The decision went in favour of the assessee.
Decision: In view thereof, the appeal stands dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL LODGING NO.572 OF 2003
CIT, Bombay .. Appellant.
V/s.
ICICI Bank Ltd. .. Respondent.
Mr.A.M. Kotangale for the appellant.
Mr.S.J. Mehta for the respondent.
CORAM : DR.S. RADHAKRISHNAN &
J.P. DEVADHAR, JJ.
DATED : 12TH FEBRUARY, 2007.
P.C. :
1. Heard learned counsel for the appellant and
the learned counsel for the respondent.
2. Both the learned counsel for the appellant
and the respondent fairly stated that the issue
involved in this appeal is squarely covered by the
judgment of the Supreme Court in the case of Sandvik
Asia Limited V/s. CIT & Others reported in (2006)
280 ITR 643 (SC) against the revenue.
3. In view thereof, the appeal stands dismissed
with no order as to costs.
(DR.S. RADHAKRISHNAN, J.)
(J.P. DEVADHAR, J.)
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