COMMISSIONER OF INCOME TAX Vs. MADURA COATS LTD.

JUDGEMENT

(1.) By this common Judgment, we are disposing both the Tax Case Appeals filed by the Revenue against impugned common order dtd. 6/2/2009 passed by the Income Tax Appellate Tribunal, Chennai Bench 'C' in I.T.A.Nos.1472 and 1473/Mds/2008.

(2.) By the impugned order, the Appellate Tribunal has allowed two appeals filed by the respondent-assessee against order two separate orders dtd. 31/3/2008 passed by the Commissioner of Income Tax-1 Madurai under Sec. 263 of the Income Tax Act, 1961 for the Assessment Year 1998-99 and Assessment Year 2003-2004 respectively.

(3.) At the time of admission of these two appeals on 14/12/2009, a Co-ordinate Bench of this Court had framed following two substantial question of law for being answered:-