The Commissioner Of Income Tax, Panaji-Goa v. M/S. Salgaocar Mining Industries Ltd., Margao-Goa

IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 59 OF 2006 THE COMMISSIONER OF INCOME TAX, PANAJI-GOA. Versus ....Appellant M/S. SALGAOCAR MINING INDUSTRIES LTD., MARGAO-GOA. ....Respondent Mr. S. R. Rivankar, Advocate for the appellant. Ms. Amina Fadte, Advocate for the respondent. P.C. -Coram:J. N. PATEL &N. A. BRITTO, JJ.-Date:13th November, 2006 This appeal has been preferred by the Revenue impugning the orderdated 15.12.2005 passed by I.T.A.T. The Appeal is under section 260-Aof the Income Tax Act and the appellant has raised two substantialquestion of law. In view of the fact that the tribunal having disposed of the matter byplacing reliance on the decision of Karnataka High Court in KwalityBiscuits Ltd v. Commissioner of Income Tax, 243 Income Tax Reports519 in favour of the assessee which view has been approved by theSupreme Court in Commissioner of Income Tax v. Kwality Biscuits Ltd [2006] 284 ITR 434 (SC). The decision of this Court havingdistinguished the case of Commissioner of Income Tax v. KwalityBiscuits in the case of Commissioner of Income Tax v. Kotak MahindraFinance Ltd. (Bom). 2004 Income Tax Reports Vol.265 page 119, on thebasis of which the Revenue has raised substantial question of law it no ef. J. N. PATEL, J. N. A. BRITTO, J.