In The Commissioner Of Income Tax – 4, Mumbai v. Wellknown Polyster Limited, the High Court (2009) dismissed the appeal. The decision went in favour of the assessee.
Decision: The appeals are dismissed accordingly with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L) NO.1325 OF 2009ANDINCOME TAX APPEAL (L) NO.1326 OF 2009ANDINCOME TAX APPEAL (L) NO.1335 OF 2009
The Commissioner of Income Tax – 4, Mumbai..Appellant.VersusWellknown Polyster Limited..Respondent.
Mr.P.S. Sahadevan with Mr.Vimal Gupta for the appellant.None for the respondent.
CORAM : V.C. DAGA & J.P. DEVADHAR, JJ.
DATE : 21ST JULY, 2009.
P.C. :
1.Learned Counsel for the revenue fairly states that the question as framed in these appeals is covered by the judgment of this Court in the case of CIT V/s. Emptee Poly-Yarn P. Limited reported in [2008] 305 ITR 309(Bom).
2.In the light of that, there is no merit in these appeals. The appeals are dismissed accordingly with no order as to costs.
(J.P. Devadhar, J.)(V.C. Daga, J.)
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