COMMISSIONER OF INCOME TAX Vs. PUNJAB TRACTORS LTD.

JUDGEMENT

(1.) THIS appeal has been preferred under s. 260A of IT Act, 1961 proposing the following substantial question of law arising respect of the asst. yr. 1998 -99 :

(2.) LEARNED counsel for the Revenue points out that the issue has been gone into by this Court in CIT vs. Vardhman Polytex Ltd (2006) 203 CTR (P&H) 397 : (2006) 154 Taxman 254 (P&H) and the question has been answered against the Revenue and in favour of the assessee.

(3.) IN view of the judgment of this Court referred to above, the question proposed cannot be held to be a substantial question of law. The appeal is dismissed.