TMI Blog2007 (10) TMI 248X X X X Extracts X X X X X X X X Extracts X X X X ..... eal against the order of the Income Tax Appellate Tribunal made in ITA.No.1265/Mds/1993, dated 12.3.2001. The relevant assessment year is 1991-1992. 2. The facts as culled out from the statement go as follows:- 3. We heard the argument of the learned counsel for the Revenue and the learned counsel for the assessee and perused the materials available on record. 4. The assessee is a closely held company and had filed a return on 27.12.1991 declaring taxable income of Rs.27,79,910/-. Intimation under Section 143(1)(a) was given on 13.1.1992 and the same was rectified under Section 154 of the Income Tax Act on 17.3.1992. Aggrieved by the rectification, the assessee filed an appeal and the same was dismissed by the Commissioner of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 80HH? 6. It is submitted across the bar by the learned counsel appearing for either side that the very issue has been considered and held against the revenue by the Madhya Pradesh High Court in the case of J.P.TOBACCO PRODUCTS P.LTD. VS. COMMISSIONER OF INCOME TAX reported in (1998) 229 ITR 123. It has also been further submitted that the Bombay High Court also has taken the same view in the case of COMMISSIONER OF INCOME-TAX VS. NIMA SPECIFIC FAMILY TRUST reported in (2001) 248 ITR 29. The judgment of the Madhya Pradesh High Court has been taken to the Supreme Court and the Supreme Court in JOINT COMMISSIONER OF INCOME-TAX VS. MANDIDEEP ENGINEERING AND PACKAGING INDUSTRIES P. LTD., (2007) 292 ITR 1, has rejected the S.L.P., by g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DLT 673 = (2006) 285 ITR 423 (Delhi) and CIT v. Lucky Laboratories Ltd . (2006) 200 CTR 305 (All) Since the special leave petitions filed against the judgment of the Madhya Pradesh High Court have been dismissed and the Department has not filed the special leave petitions against the judgments of different High Courts following the view taken by the Madhya Pradesh High Court, we do not find any merit in this appeal. The Department having accepted the view taken in those judgments cannot be permitted to take a contrary view in the present case involving the same point. Accordingly, the civil appeal is dismissed. No costs". 7. In view of the decision of the Supreme Court referred to supra, the above tax case appeal is dismissed. No c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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