2018 (10) TMI 1186

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..... Respondent : Mr.M.Swaminathan for Mrs.S.Premalatha JUDGMENT T. S. Sivagnanam, J. This appeal is filed by the assessee against the order passed by the Income Tax Appellate Tribunal, Madras 'B' Bench, dated 7.12.2007 in ITA No.2027/Mds/2006 for the Assessment year 2002- 03. 2.Heard Mr.V.Vikram, Learned Counsel for the appellant and Mr.M.Swaminathan, Learned Counsel for the Revenue. 3.T .....

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..... off against the profits of other units in earlier years?" 4.The above referred Substantial Questions of Law were considered by the Division Bench of this Court in the assessee's own case for the earlier Assessment Year in T.C.A.No.524 of 2008, dated 25.02.2015, in Prasad Productions P.Ltd. vs. Deputy Commissioner of Income Tax [reported in (2015) 92 CCH 0097 ChenHC] and decided in favour of .....

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..... dated 12.01.2015, this Court, following the decision reported in (2012) 340 ITR 477 (Velayudhaswamy Spinning Mills v. Asst.CIT) held in favour of the assessee and against the Revenue. 10.We, therefore, taking note of the decision rendered by this Court in the case of Velayudhasamy Spinning Mills (supra) and in a batch of cases in T.C.(A) Nos.408 of 2012, are inclined to allow this Tax Case (Appe .....

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