INDUSTRIAL DEVELOPMENT BANK OF INDIA, MUMBAI Vs. DEPUTY COMMISSIONER OF INCOME TAX, SPL. RANGE-I, KOLHAPUR

JUDGEMENT

(1.) These are two appeals filed by the assessee - The United Western Bank Ltd., which was merged with the 'Industrial Development Bank of India'. Both these appeals raise common questions of fact and law. The relevant assessment years are 1993-94 and 1994-95. We refer to the questions of law framed by the Court while admitting Income Tax Appeal No. 511 of 2024, which reads thus:

(2.) At the outset, Mr. Naniwadekar, learned counsel for the appellant has submitted that the appeals are being confined to question nos. 1 and 2. These questions are interconnected.

(3.) The facts in the lead appeal (Income Tax Appeal No. 511 of 2004) can be noted hereunder:-