In The Dy.commissioner Of Income Tax v. R.m.savant, J.) (V.c.daga J, the High Court (2010) allowed the appeal. The decision went in favour of the Revenue.
Decision: All the appeals are allowed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONORDINARY ORIGINAL CIVIL JURISDICTION
WITH
INCOME TAX APPEAL NO. 3515 OF 2009
WITHINCOME TAX APEAL NO. 4308 OF 2009
M/s.Fouress Engg.(India) Ltd.V/s.
The Dy.Commissioner of Income Tax.
... Appellant.... Respondent.
Paras S. Sarla for the appellant.
Suresh Kumar for the respondent.
P.C.:
Heard learned counsel for the rival parties.2.By consent of parties, all the three appeals are taken up for hearing. Learned counsel for both parties submit that the issues sought to be raised in the present appeal are covered in favour of the Assessee and against the Revenue in view of the judgment of the Apex Court in the case of C.I.T. v. Alom Extrusions Ltd., (2009) 319 ITR 306 (SC). For the reasons stated therein, the questions of law sought to be canvassed in these appeals are answered in favour of the Assessee and against the Revenue. All the appeals are allowed. No order as to costs.
(R.M.SAVANT, J.) (V.C.DAGA J.)
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