COMMISSIONER OF INCOME-TAX Vs. DEIVAMALAR

JUDGEMENT

(1.) THE appeal is filed by the Revenue against the order of the Income -tax Appellate Tribunal, Madras, 'D' Bench dated May 11, 2007, in I. T. A. No. 227/Mds/2006. The relevant assessment year is 2000 -01. The substantial questions of law formulated for entertainment of the appeal are as follows:

(2.) THE facts of the case as culled out from the grounds of appeal is as follows:

(3.) WE heard the argument of the learned Counsel appearing for the Revenue.