SAMALPATTI POWER COMPANY P LIMITED Vs. ASSISTANT COMMISSIONER

JUDGEMENT

(1.) THE appeal is at the instance of the assessee against the order 8.8.2008 of the Income Tax Appellate Tribunal, Madras 'C' Bench in I.T.A.No,2321/Mds/2007 relating to the assessment year 2003-2004.

(2.) THOUGH three questions of law have been formulated in this appeal, the learned counsel appearing for the assessee submits before this Court that he is not pressing the two questions of law and they need not be taken up for consideration. The third question of law is as follows:

(3.) AS the question of law has been now answered in favour of the assessee by the Apex Court in the above said judgement, the question of law in this appeal has to be answered in negative and in favour of the assessee by following the above referred decision of the Supreme Court reported in 305 ITR 409.The appeal is therefore allowed to that extent.