2008 (9) TMI 489

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....urt was delivered by 1. K. RAVIRAJA PANDIAN J.-The Revenue filed the appeals under section 260A of the Income-tax Act, 1961, against the orders of the Income-tax Appellate Tribunal, Madras, "A" Bench, dated October 13, 2004, in 1. T. A. Nos. 1370 and 1371/Mds/2004 for the assessment years 1995-96 and 1996-97 and Madras "B" Bench dated March 20, 2008, in I. T. A. No. 606/Mds/2006 for the assessm....

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....atsha and Padayappa in the territories of Europe, Canada, Malaysia, Singapore and Australia for a consideration of Rs. 1,19,47,418 and Rs. 3,33,80,000, respectively and claimed the benefit under section 80HHC on the profit thereon to the tune of Rs. 83,70,893 and Rs. 2,73,09,324, respectively. The Assessing Officer was of the view that since the only right to exhibit the films in the specified ter....

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....1995-96 and 1996-97 and the Revenue in respect of the assessment year 1999-2000 filed appeals before the Income-tax Appellate Tribunal. The Appellate Tribunal, following the very same assessee's own case in I. T, A. Nos. 1370 and 1371/M/04, wherein the Bombay High Court decision in Abdulgafar A. Nadiadwala v. Asst. CIT [2004] 267 ITR 488 has been applied to the effect that even profits on transfer....