COMMISSIONER OF INCOME TAX Vs. KHODAY INDIA LTD

JUDGEMENT

(1.) THIS Income Tax Appeal arises from the order dated 19.09.2008 rendered by the Income Tax Appellate Tribunal (for short 'Tribunal') Bangalore Bench 'B', for the Assessment Year 2004 -05, partly allowing the appeal filed by the revenue bearing ITA No.294(Bang)/2008.

(2.) IN the present appeal, the revenue has formulated the following questions of law:

(3.) MR .K.V.Aravind, learned counsel for the appellants -revenue, in all fairness, invited our attention to the Judgment dated 15.03.2010 rendered by this Court in ITA No.120/2003 and submitted that the first and the second substantial questions of law raised in the present appeal and the substantial questions of law raised in the said appeal (ITA No.120/2003) are identical and this Court answered them against the revenue and in favour of the assessee. In short, Mr.Aravind, submitted that the first and the second substantial questions of law is squarely covered by the judgment dated 15.03.2010 rendered by this Court in ITA No.120/2003 and hence the same may be answered against the revenue and in favour of the assessee.