2016 (7) TMI 1089

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.... JUDGMENT ( Judgment of the Court was made by S. Manikumar, J ) Challenge in this Tax Appeal, is to an order passed by the Income Tax Appellate Tribunal in ITA No.1694/Mds/2015, dated 09.12.2015, by which, the Tribunal dismissed the appeal preferred by the revenue, against the order of the Commissioner of Income-Tax (Appeals) dated 07.05.2015 for the Assessment Year 2011-12. 2. Revenue ....

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....ax Department that this Court has been consistently following the decision in M/s.Velayudhaswamy Spinning Mills (P) Ltd., v. Assistant Commissioner of Income-Tax reported in 340 ITR 477. She also submitted that challenge to the same, is pending before the Hon'ble Apex Court in SLP No.1136 of 2011. 4. Similar to the facts and circumstances of the case, while adverting to the substantial ques....

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....in CIT v. R.Yuvaraj reported in [2015] 57 TAXMANN.COM 252 (Madras), wherein, it is held that though it is contended that SLP filed against the above reported judgment, is pending on the file of the Hon'ble Supreme Court, the effect of the same, would not amount to reversal or erase the dictum. 6. Material on record discloses that while confirming the order of the Commissioner of Income-Tax ....