2002 (7) TMI 802

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..... before us are : Whether the Tribunal was right in its conclusion that there is no error prejudicial to the interests of Revenue enabling the CIT to invoke s. 263 even though the ITO failed to apply the provisions of s. 43A and allowed the enhancement caused by the variations in exchange as a revenue expenditure ? 2. Whether in the facts and circumstances of the case and in view of the pr .....

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..... 3. As for the second question, it is stated that the matter is covered against the Revenue by a Supreme Court decision in CIT vs. Arvind Mills Ltd (1992) 101 CTR (SC) 91: (1992) 193 ITR 255(SC) : TC 29R.227 which was later on followed by this Court in Trichy Distrilleries Chemicals vs. CIT (1999) 235 ITR 194(Mad). In that view, that question is answered in favour of the assessee and against t .....

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