COMMISSIONER OF INCOME-TAX Vs. VIJAYA BANK

JUDGEMENT

(1.) This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment Year 2007-08. The appeal was admitted by a Bench of this Court vide order dated 27.10.2017 on the following substantial questions of law:

(2.) The factual background in which the aforesaid substantial questions of law arises for our consideration needs mention.

(3.) The assessee, thereupon, filed an appeal. The Commissioner of Income Tax (Appeals) by an order dated 31.05.2011 partly allowed the appeal. Being aggrieved, the revenue as well as the assessee filed appeals before the Income Tax Appellate Tribunal (hereinafter referred to as 'the Tribunal', for short). The Tribunal by an order dated 11.09.2015, allowed the appeal preferred by the assessee and dismissed the appeal preferred by the revenue. In the aforesaid factual background, the revenue is in appeal before this Court.