COMMISSIONER OF INCOME-TAX Vs. BROADWAYS OVERSEAS LTD

JUDGEMENT

(1.) This order will dispose of ITA Nos. 466 and 467 of 2010 as common questions are involved.

(2.) ITA No. 466 of 2010 has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 26.11.2009 of the Income Tax Appellate Tribunal, Amritsar in I.T.A. No. 429(ASR)/2009 for the assessment year 2003-04 proposing to raise following substantial questions of law:

(3.) Learned Counsel for the appellant states that the matter is covered in favour of the revenue by orders of this Court dated 16.8.2010 in I.T.A. No. 301 of 2010 CIT v. Victor Forgings and I.T.A. No. 299 of 2010 CIT v. F.C. Sondhi, wherein after noticing the judgment of the Bombay High Court in CIT v. Kalpataru Colours and Chemicals,2010 42 DTR 193, the matter was remanded to the Tribunal for fresh decision in accordance with law.