1999 (3) TMI 34 - MADRAS HIGH COURT

Extract:
.......ain Mandal 1995 211 ITR 293, respectively, both the Rajasthan High Court and the Gujarat High Court have answered the questions in favour of the assessee and against the Revenue. Following the aforesaid decisions of the Rajasthan and Gujarat High Courts, we answer the second question referred to us in favour of the assessee and against the Revenue.