VXL INDIA LTD Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE Appeals have been admitted on 16. 10. 2000 framing following identically worded substantial questions of law in each of the Appeal.

(2.) HEARD learned Advocates appearing for the respective parties. It is common ground between the parties that the issue raised by the questions is no longer res integra in light of Full Bench judgment of this Court in the case of CIT Vs. Gujarat State Fertilizers Co. Ltd. (2003) 259 ITR 526.

(3.) AS can be seen from the impugned order of the Tribunal, which is a common order dated 16. 06. 1999, the Tribunal has followed the Division Bench judgment in the case of CIT Vs. Windsor Foods Ltd. (1999) 235 ITR 249 which has since been overruled by the Larger Bench decision in the case of CIT Vs. Gujarat State Fertilizers Co. Ltd. (supra ). In the circumstances, it is not necessary to set out facts and contentions in detail.