In the result, the appeals of the assessee are partly allowed whereas the Cross Objections of the Revenue are partly allowed for statistical purposes
Bench: Shri A. D. Jain & Shri T. S. Kapoor
11A and 2(15) of the Act, along with the proviso to section 2(15), has Hon'ble High Court has answered all these three questions in favour of the assessee and against the Revenue. 19. We further find that in the case of the assessee itself for assessment year 2015-16, the case of the assessee was reopened