ASWANI ENTERPRISES Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) These appeals by the assessee under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act) have been directed against the common order passed by the Income Tax Appellate Tribunal, A Bench, Chennai in ITA.Nos.488 and 489 of 2007 dated 14.3.2008 relevant to the assessment years 1998-99 and 1999-2000.

(2.) The above tax case appeals have been admitted on 24.7.2008 on the following substantial questions of law:-

(3.) We have heard Mr.T.Ramesh, learned counsel for the assessee as well as Mr.M.Swaminathan and Mrs.V.Pushpa, learned Standing Counsel for the Revenue.