COMMISSIONER OF INCOME TAX Vs. ANNAMALAI FINANCE LTD

JUDGEMENT

(1.) THE revenue on appeal against the orders of the Income Tax Appellant Tribunal MADRAS 'd' Bench, Chennai dated 08. 06. 2007 in ITA. Nos. 28,29,30/mds/2005 in respect of the assessment years 1997-98, 1998-99 and 1999-2000 by formulating the following common question of law:-

(2.) IT is submitted across the Bar that the issue raised in the present appeals has already been covered against the revenue in the decisions of this Court dated 01. 02. 2006 made in T. C. A. No. 55 of 2006 and 26. 10. 2006 in T. C. A. No. 2440 of 2006.

(3.) IN T. C. A. No. 2440 of 2006, after referring to the decision of Kerala High Court in Commissioner of Income Tax vs. Stae Bank of Travancore (1997) 228 ITR 40, wherein it is held as follows:-