C.I.T.-II Vs. EMTICI ENGINEERING LTD.

JUDGEMENT

(1.) THESE Tax Appeals involve common questions on law and therefore, they are decided by this common judgment. Since the facts are almost similar, Tax Appeal No. 70/2002 is taken as the lead matter.

(2.) BRIEFLY stated, the facts are that the assessee -Company is a selling agent for Elecon Engineering Ltd., Eimco Elecon Engineering Ltd., Power Build Ltd., etc. and the main source of its income is commission received from them. Besides, the assessee also carries out fabrication works for Projects. The assessee had, in its return of income, claimed to be a company in which public are substantially interest. However, the share holding pattern of the assessee had not changed and it remained the same as was in the previous year.

(3.) WE have heard learned counsel for both the sides. Insofar as question No. 1 is concerned, the same is concluded by the decision of this Court passed in Tax Appeal No. 255/2000 decided on 17.11.2014. For ready reference, the judgment and order passed in the aforesaid appeal is reproduced hereunder;