LAWS(RAJ)-2017-5-293

C I T JAIPUR Vs. NASH FASHIONS

Decided On May 29, 2017
C I T JAIPUR Appellant
V/S
Nash Fashions Respondents

JUDGEMENT

(1.) Both these appeals arising out of the judgment of the tribunal whereby tribunal has dismissed the appeal of the department and confirmed the order of the CIT(A) and since both the appeals relate to the same assessee, they are decided by this common judgment.

(2.) This court while admitting the appeals framed following substantial questions of law:-

(3.) Counsel for the appellant Mr. Singhi has taken us to the judgment of the Supreme Court in Liberty India vs. Commissioner of Income Tax, 2009 317 ITR 218 (SC) pursuant to which, the matter was admitted in 2015 wherein the conclusion reached by the Supreme Court after discussing issue which reads as under:-