COMMISSIONER OF INCOME TAX Vs. CELEBRITY FASHIONS LTD

JUDGEMENT

(1.) We have heard Mr.T.Ravi Kumar, learned Senior Standing Counsel for the appellant/Revenue and Mr.S.Sridhar, learned counsel for the respondent/assessee.

(2.) The appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act) is directed against the order dated 30.04.2012 made in I.TA.No.1319/Mds/2011 on the file of the Income Tax Appellate Tribunal, Chennai, "D" Bench (for brevity, the Tribunal) for the Assessment Year 2007-08.

(3.) The appeal was admitted on 23.12.2014 on the following substantial questions of law: