COMMISSIONER OF INCOME TAX Vs. M K SHANMUGAM

JUDGEMENT

(1.) Tax Case Appeal No.69/2008 has been filed against the order dated 23.11.2006 passed by the Income Tax Appellate Tribunal "C" Bench, Chennai, in I.T.(SS)A.No.79/Mds/2004.and Tax Case Appeal No.70/2008 against the order dated 23.11.2006 passed by the Income Tax Appellate Tribunal "C" Bench, Chennai, in C.O.No.155/Mds/2004 in I.T.(SS)A.No.79/Mds/2004. Since the issue involved in both these tax case appeals are one and the same, they are disposed of by this common judgment.

(2.) The brief facts of the case are as follows:

(3.) At the time of admitting the tax case appeals, the following substantial questions of law were framed by this court: