2023 (6) TMI 1179

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..... [ 2000 (3) TMI 3 - SUPREME COURT] the High Court has dismissed the Appeals preferred by the Revenue. Revenue has heavily relied upon Explanation 5 to Section 32(1) of the Income Tax Act, 1961. We are of the opinion that, in the facts and circumstances of the case, Explanation 5 to Section 32(1) shall not come to the rescue of the Revenue. - Civil Appeal No. 5941 of 2012 With C.A. No. 8488 .....

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..... d. 2. Feeling aggrieved and dissatisfied with the impugned judgment and order dated 08.03.2010 passed by the High Court of Gujarat at Ahmedabad passed in Tax Appeal No. 325 of 2009 and order dated 25.04.2012 passed by the High Court of Judicature at Madras in Tax Case (Appeal) No. 442 of 2005, by which the High Court has dismissed the said Appeals preferred by the Revenue, the Revenue has prefe .....

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..... Court in the case of Commissioner of Income Tax vs. Mahendra Mills, 243 ITR 56, the High Court has dismissed the Appeals preferred by the Revenue. 5. Shri N. Venkataraman, learned ASG, appearing for the Revenue has heavily relied upon Explanation 5 to Section 32(1) of the Income Tax Act, 1961. However, we are of the opinion that, in the facts and circumstances of the case, Explanation 5 to .....

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