CALIBRE FINANCIAL SERVICES LTD. Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) These appeals filed by the Assessee under section 260A of the Income Tax Act, 1961(in short, "the Act") are directed against the order of the Income Tax Appellate Tribunal "A" Bench, Chennai, in I.T.A.No.1275/MDS/2006 and C.O.No.154/MDS/2006, dated 23.01.2008, for the assessment year 2001-02.

(2.) Though they were two proceedings before the Tribunal, one at the instance of the Revenue, which was the substantive appeal and other proceeding was Cross-Objection by the assessee. However, no orders were passed in the Cross-Objection, since the CrossObjection was filed only to sustain the order of Commissioner of Income Tax (Appeals) (CITA), which held in favour of the assessee. Therefore, though there are two tax case appeals, the issue is one and the same.

(3.) The above appeals have been admitted on the following Substantial questions of law: