2010 (7) TMI 996

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....nue by: Shri Omkareshwar Chidra  Assessee by: Shri Bharath O  R  D  E  R    PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER: This appeal and cross objection of the Revenue and assessee respectively, are directed against the order of the ld. CIT(A)-I, Coimbatore and relates to the Assessment Year 2005-06. 2. Grievance of the Revenue is that the ld. CI....

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....him, it was an outgo of capital nature. Assessee was successful in its appeal before the ld. CIT(A).    4. Now before us, ld. D.R. submits that through its decision in CIT Vs. Sri Mangayarkarasi Mills Ltd. 315 ITR 114 the Hon'ble Apex Court had settled the law on the point, though it was necessary to see whether there was increase in the installed capacity of production.&nbsp....

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....o be considered in view of the decision of the Hon'ble Apex Court in the case of Ramaraju Surgical Cotton Mills [supra], Saravana Spinning Mills P. Ltd [supra], Sri Mangayarkarasi Mills Ltd. [supra] and Hindustan Textiles [supra]. We are, therefore, of the opinion that the claim of the assessee requires to be looked into afresh, by the Assessing Officer in view of the law laid down by Hon'....