Of Income Tax v. Both The Appeals Are, Accordingly, Allowed. Noorder As To Costs

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTAAND THE H0N’BLE SRI JUSTICE K.C.BHANU I.T.T.A. Nos. 45 of 2001 and 70 of 2001 COMMON JUDGMENT: (Per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) 1. We have heard the learned counsel for theappellants and the learned counsel for respondents. 2. Both the appeals are taken up together forhearing. These appeals were admitted on 03.04.2001. Mr. S.R.Ashok, learned counsel appearing for theappellants cited a judgment of this Court in Commissioner of Income Tax v. Vijaya Enterprises & another[[1]]. Itappears that the issue involved in these two appeals iscovered by this judgment. The issue was decided infavour of the appellants therein. Accordingly, we setaside the judgment and order of the learned Tribunalimpugned in these appeals. 3. Both the appeals are, accordingly, allowed. Noorder as to costs. _____________________ K.J. SENGUPTA, CJ _______________ K.C.BHANU, J DRK/HSD THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTAANDTHE H0N’BLE SRI JUSTICE K.C.BHANU COMMON JUDGMENTIN I.T.T.A. Nos. 45 of 2001 and 70 of 2001 (Per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) [1](2011) 332 ITR 235 (AP) 23.7.2013