9911796707
TMI Blog2014 (10) TMI 262X X X X Extracts X X X X X X X X Extracts X X X X ..... is matter was called out for admission, Mr.Tejveer Singh, learned counsel appearing for the Revenue, stated that the Appeal is arising out of the order dated 30.09.2011 passed by the Income Tax Appellate Tribunal in Income Tax Appeal No.1949/Mum/2010. The Assessment Year in question is 2002-2003. The Appeal raises the substantial questions of law and according to him, they are formulated at page 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CTR 113 (The Commissioner of Income Tax v/s M/s Indian Oil Corporation Limited). 3. Having perused this judgment with the assistance of the learned counsel appearing for the parties we are of the opinion that the Appeal has to be partly allowed. It is, accordingly, allowed partly and answer to question (a) shall be in favour of the Revenue and against the Assessee in terms of the Division Bench j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Commissioner of Income Tax v/s Sutlaj Industries Limited reported in 325 ITR 331 (Del.). 5. The Delhi High Court relied on the view taken by the Madras High Court in the case of Cholamandalam Investment and Finance Limited reported in (2007) 294 ITR 438. It has recorded in the order that the Special Leave Petition against this order of the Madras High Court was dismissed by the Honou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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