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TMI Blog2016 (7) TMI 1089X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 has come up with the above appeal, raising ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing 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 questions of law raised and after considering the judgment of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ras), 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 (Appeal), the Income-Tax Appellate Tribunal, at paragraph No.2 h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e order of the CIT(A) and accordingly the same is confirmed." 7. Going through the material on record, we are of the view that there are no valid grounds to reverse the abovesaid orders. Questions of law raised are answered against the revenue and in favour of the assessee and the instant appeal deserves to be dismissed. 8. In the result, the Tax Case Appeal is dismissed at the stage of admissio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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