MAHENDRA R PATEL Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) By way of this Appeal, the Appellant - assessee has challenged the judgment and order dated 31.07.2008 of the Income Tax Appellate Tribunal, Ahmedabad 'A' Bench in ITA No.906/Ahd/2004 for the Assessment Year : 1987 -88.

(2.) While admitting the matter on 20.11.2009, the following substantial questions of law were framed by the Court for consideration : -

(3.) The above Tax Appeal was ordered to heard with Tax Appeal No.56/2004 as the issues raised in the present Tax Appeal were interconnected with those of Tax Appeal No.56/2004. Tax Appeal No.56/2004 was admitted by this Court vide order dated 01.11.2004 and vide judgment of this Court dated 09.12.2004 rendered in the above and allied matters, the issue was answered in favour of the assessee and against the revenue and relevant paragraphs of the above judgment reads as under : -