ASSISTANT COMMISSIONER OF INCOME TAX Vs. OCTAVE EXPORTS

JUDGEMENT

(1.) THE assessee and the Revenue has filed cross -appeals against the order of CIT(A), dt. 16th June, 2008, relating to asst. yr. 2005 -06 against the order passed under s. 143(3) of the IT Act, 1961 (in short 'the Act') Further, the Revenue has filed an appeal against the order of CIT(A), dt. 20th Aug., 2010 relating to asst. yr. 2006 -07 against the order passed under s. 143(3) of the Act. The assessee has filed cross -objections against the appeal filed by the Revenue relating to asst. yr. 2006 -07. All the three appeals of the assessee and Revenue and the cross -objections filed by the assessee were heard together and are being disposed of by this consolidated order for the sake of convenience.

(2.) THE Revenue in ITA No. 779/Chd/2008 has raised the following grounds of appeal:

(3.) THE assessee in ITA No. 762/Chd/2008 has raised the following grounds, of appeal: