The Commissioner Of Income Tax – 10, Mumbai v. Indian Seamless Metal Tube Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.71 OF 2009 The Commissioner of Income Tax – 10, MumbaiVersusIndian Seamless Metal Tube Limited ..Appellant. ..Respondent. Mr.Suresh Kumar for the appellant.Mr.A.K. Jasani i/by S.N. Inamdar for the respondent. CORAM : V.C. DAGA &J.P. DEVADHAR, JJ. DATE : 2[nd] July, 2009 P.C. : 1.Heard learned counsel for rival parties. Both parties agree that the tribunal has relied upon the Judgment of the Supreme Court in the case of Virtual Soft Systems Limited V/s. CIT [2007] 289 ITR 83 (SC). The said Judgment has now been over-ruled by the Judgment in the case of C.I.T.V/s. Gold Coin Health Food P. Limited, [2008] 304 ITR 308 (SC). 2.In this view of the matter, the impugned order is quashed and set aside. Appeal is restored to the file of the tribunal for fresh hearing and decision in the light of the Apex Court judgment holding the field. 3.The appeal is thus disposed of with no order as to costs. (J.P. Devadhar, J.) (V.C. Daga, J.)