THE COMMISSIONER OF INCOME TAX Vs. CHEMOSYN LTD.

JUDGEMENT

(1.) In this appeal by the revenue under section 260A of the Income Tax Act,1961 (the Act) the challenge is to the order dated 7.9.2012 passed by the Income Tax Appellate Tribunal (for short the ' Tribunal'). The assessment year involved is A.Y.2007-08.

(2.) Mr. Pinto learned counsel appearing for the revenue submits that following reframed questions of law arise for consideration of this Court:

(3.) The questions as framed can be broadly divided into two issues: