The Cit v. M/S.majethia Enterprises

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.770 OF 2008 INCOME TAX APPEAL NO.770 OF 2008 The CIT .. Appellant Vs. M/s.Majethia Enterprises .. Respondent Ms.Anamika Malhotra for the Appellant. Mr.A.K.Jasani for the Respondent. CORAM :- DR.S.RADHAKRISHNAN & S.J.KATHAWALLA, JJ. CORAM :- DR.S.RADHAKRISHNAN & S.J.KATHAWALLA, JJ. DATE : 22nd August, 2008 DATE : 22nd August, 2008 P.C. P.C. 1. The learned Counsel for the Appellant fairly states that the first question of law which is framed in this Appeal does not arise out of the order of the ITAT. As far as the second question of law involved in this Appeal is concerned, the learned Counsel for both the parties categorically state that the said second question of law is covered by the judgment of the Hon’ble Supreme Court in the case of Calcutta Company Calcutta Company Limited V/s.CIT 37 ITR 1, Limited V/s.CIT 37 ITR 1, against the Revenue and in Limited V/s.CIT 37 ITR 1, favour of the Assessee. In view thereof, the second question of law involved in this Appeal is answered against the Revenue and in favour of the Assessee. Appeal stands disposed of. (S.J.KATHAWALLA, J.) (DR.S.RADHAKRISHNAN,J.)