M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.

Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA

10(33), the resultan t fall in the computation of gro ke of arguments that deduction purchase of shares was allowab the decision of the Supreme arehousing Corporation (supra), bar the deduction. We hold acco We may, however, place o re to be made only with ref allowance shall not be warrante view of the proviso to section voking section

M/S KWALITY CAFE & RESTAURANT P LTD. vs. COMMISSIONER OF INCOME TAX AND ANR.

Appeal is dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

Section 260A of the Income Tax Act, 1961, has been filed against the order dated 07.04.2006 (Annexure A-3) passed by the Income Tax Appellate Tribunal, Chandigarh, whereby appeal filed by the revenue-respondent against the order dated 22.03.2000 passed by the Commissioner of Income Tax (Appeals), Chandigarh, has been partly accepted. Brief facts of the case are that