COMMISSIONER OF INCOME TAX Vs. MALIBU ESTATE

JUDGEMENT

(1.) By this common judgment two appeals being ITA Nos. 65/2006 and 37/2006 filed by the Revenue are being disposed of since common question of law is involved.

(2.) Both these appeals arise out of decision dated 20th May, 2005 passed by Income Tax Appellate Tribunal (hereinafter referred as Tribunal) for the assessment year 1997-98 in ITA No.1499/Del/2001 and for the assessment year 1999-2000 in ITA No.1500/Del/2001.

(3.) The Revenue has raised following questions of law in ITA No.37/2006.