COMMISSIONER OF INCOMETAX2 Vs. AUDCO INDIA LTD.

JUDGEMENT

(1.) The Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges an order dated 16 th December, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). This Appeal relates to Assessment Year 200405.

(2.) The revenue has urged the following questions of law for our consideration:

(3.) The respondent is joint venture company between Rs. and T Limited and Audco Limited. The respondent is engaged in manufacture and sale industrial valves. It sells its valves to group companies and also to others.