LAWS(P&H)-2006-8-299

COMMISSIONER OF INCOME TAX Vs. ABHISHEK INDUSTRIES LTD.

Decided On August 04, 2006
COMMISSIONER OF INCOME TAX Appellant
V/S
Abhishek Industries Ltd. Respondents

JUDGEMENT

(1.) TRIBUNAL , Chandigarh Bench 'A' (for short, 'the Tribunal') in ITA No. 1017/Chandi/1997 for the asst. yr. 1993 -94, raising the following substantial questions of law :

(2.) WITH the consent of learned counsel for the parties, we have taken the appeal on Board and heard the same for final disposal.

(3.) MORE than two decades ago, a Constitution Bench of Hon'ble the Supreme Court in McDowell and Co. Ltd. vs. CTO (1985) 47 CTR (SC) 126 : AIR 1986 SC 649, while referring to earlier judgments and also laying path for departing from Westminster principle observed as under :