In The Raymond Ltd v. The Commissioner Of Income-Tax, the High Court decided the matter.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL(IT) NO. 387 OF 2005
The Raymond LtdV/S
The Commissioner Of Income-tax
....Appellants
....Respondent
WITH
INCOME TAX APPEAL(IT) NO. 241 OF 1999
The C.i.t. BombayV/SRaymond Woollen Mills Ltd
....Appellants
....Respondent
Mr Krunal Gadhida with Mr Varun Rathi &Mr Ankit Yadav i/b Gagrats For AppellantMr P C Chhotaray for Respondent
CORAM : M.S. SANKLECHA &SANDEEP KASHINATH SHINDE, JJDATE : 18th June, 2018
P.C. : Appeal to be placed for Final Hearing on 09/07/2018.
( ASSOCIATE )
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