COMMISSIONER OF INCOME TAX Vs. SUNSHINE ENTERPRISES

JUDGEMENT

(1.) THE above tax case appeal is directed against the order of the income-tax Appellate Tribunal dated 11. 11. 1998 made in ITA No. 2626/mds/19 91, raising the following substantial question of law.

(2.) THE brief facts leading to the filing of the above appeal are as under.

(3.) HEARD the learned Senior Standing counsel appearing for the appellant, who states that the issue involved in this appeal is answered in favour of the Revenue by this Court in COMMISSIONER OF INCOME TAX VS. POOSHYA EXPORTS P. LTD. , (262 ITR 417), which has been confirmed by the Supreme Court in GEM GRANITES V. COMMISSIONER OF INCOME TAX (271 ITR 322 ).