2015 (7) TMI 806

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...., Senior Advocate with Mr.Rahul Hakani i/by Paras S. Savla, for the Respondent. ORDER P.C.: 1 In this Appeal the Revenue challenges the order of the Income Tax Appellate Tribunal dated 10.08.2011. The Assessment Year in question is 20072008. 2 It is stated that the Appeal raises two substantial questions of law. They are formulated by the Revenue at pages 3 and 4 of the paper book. ....

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....oing so, the Assessing Officer is stated to have ignored and not abide by the binding judgment of the Honourable Supreme Court of India in the case of Escorts Limited v/s Union of India reported in (1993) 199 ITR 43 (SC). 5 Aggrieved by the same, the Assessee approached the Commissioner of Income Tax (Appeals) and the said appeal was allowed. Then, the Revenue approached the Tribunal and the Tr....