COMMISSIONER OF INCOME TAX Vs. EASTMAN INDUSTRIES LIMITED

JUDGEMENT

(1.) THIS is an appeal under Section 260a of the Income Tax Act, 1961 (hereinafter referred to as the Act) against a common judgment dated 31. 01. 2007 passed by the Income Tax Appellate Tribunal (hereinafter referred to as the tribunal) passed in ITA No. 1850/ Del/2002 and ITA No. 4561/del/2003 in respect of the same Assessee i. e. M/s Eastman Industries Ltd in respect of the assessment years 1998-99 and 2001-02.

(2.) THE Revenue which is in appeal before us, has sought consideration by this Court, of the following questions of law, which according to the Revenue, are substantial in nature:-

(3.) IN order to deal with the issues raised in the appeal, it would be necessary for us to record certain undisputed facts. The same are as follows:-