CARBURETTORS LTD Vs. ASST COMMISSIONER OF INCOME TAX, COMPANY CIRCLE-I(3); ASST COMMISSIONER OF INCOME TAX, COMPANY CIRCLE-1(1)

JUDGEMENT

(1.) T.C.(A).No.387 of 2007:

(2.) Heard Mr.Sridhar, learned counsel appearing for the appellant/assessee (company) and Ms.Hema Murali Krishnan, learned Standing Counsel appearing for the respondent-Income Tax Department (Revenue) for a considerable length of time.

(3.) Before we proceed any further, it is only apt to notice that the Tribunal had concluded its exercise in the following words recorded in paragraph 20 of the judgment: