DY. C.I.T. Vs. LAKHANPAL NATIONAL LTD.

JUDGEMENT

(1.) BY way of these appeals, the appellant of Tax Appeal No. 377/2000 has challenged the judgment and order dated 7.3.2000 passed by the Income Tax Appellate Tribunal in ITA No. 317/Ahd/1993 for AY 1989 -99 and the appellant of Tax Appeal No. 378/2000 has challenged the judgment and order dated 7.3.2000 passed by the Income Tax Appellate Tribunal in ITA No. 2741/Ahd/1992 for AY 1988 -89.

(2.) WHILE admitting these appeal on 13.11.2000, the following substantial question of law has been framed by this Court:

(3.) HEARD the learned advocates appearing for the parties and considered the submissions.