COMMISSIONER OF INCOME-TAX Vs. M.N. CHARI

JUDGEMENT

(1.) HEARD Sri M.V. Seshachala, learned Counsel for the appellants on admission.

(2.) THIS appeal is at the instance of the Revenue preferred under Section 260A of the Income -tax Act, 1961, against the order passed by the Income -tax Appellate Tribunal, Bangalore Bench 'A' on December 12, 2007, in I.T.A. No. 553/Bang/2006 for the assessment year 2003 -04. The appeal before the Tribunal was also at the instance of the Revenue.

(3.) HOWEVER , it has not been disputed before us, that the said question of law has already been answered by the Division Bench of this Court reported in CTT v. Sabari Enterprises : [2008]298ITR141(KAR) . The said Division Bench judgment has also been followed subsequently by other Division Bench judgment. The question has been answered against the Revenue and in favour of the assessee.