2010 (7) TMI 996

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..... 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. CIT(A) had, relying on the decision of the Hon'ble Apex Court in the case of CIT Vs. Saravana Spinning M .....

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..... s, 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. 5. Per contra, the ld. A.R. submitted that the Hon'ble Apex Court, in a subsequent decision in CIT Vs. Hindustan Textiles 2037/Mds/2 .....

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..... ], 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'ble Apex Court in the various decisions cited above. Therefore, we set aside the orders of the authorities below and remit the matter back to the Assessing Offic .....

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