CRESENT CO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) These matters are taken up by video conferencing mode.

(2.) The aforementioned three appeals arise from a similar set of facts and the questions of law are also identical. Accordingly, these appeals are being disposed of by this common judgment.

(3.) As far as ITA No.221 of 2004 is concerned, it arises from an order dtd. 23/8/2004 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) in ITA No.542/CTK/2003 for the Assessment Year (AY) 1998-99. While admitting this appeal by order dtd. 8/5/2017 the following two questions of law were framed by this Court for determination: