Supreme Court grants final hearing on deduction issue, remits case for fresh consideration

The Supreme Court granted leave for final hearing in a case where the main issue was whether the respondent, an assessee, was entitled to deduction based on specific case law. The Court remitted the matter to the High Court for fresh consideration in light of the relevant judgment and directed consideration of tests from other judgments. The Court clarified it was not expressing an opinion on the case's merits. The appeal was allowed with no order as to costs.

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Issues involved: Whether the respondent was entitled to deduction in view of the law laid down in specific judgments.

Analysis:
- The Supreme Court heard the counsel on both sides, condoned the delay, and granted leave for final hearing.
- The main issue was whether the respondent, the assessee, was entitled to deduction based on the law laid down in the judgment of the Division Bench in a specific case.
- The counsel for the assessee argued that the judgment in question does not apply universally but should be considered in the context of each case.
- The Court did not express any opinion on this argument and remitted the matter to the High Court for fresh consideration in light of the relevant judgment.
- The High Court was directed to also consider the tests laid down in other judgments while deciding the case on its merits.
- The Court clarified that it was not expressing any opinion on the merits of the case.
- The appeal was allowed with no order as to costs.
- The judgment was delivered by two judges, and it was dated November 16, 2009.

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