(1.) This appeal has been preferred by the assessee, challenging the order of the Income Tax Appellate Tribunal, "B" Bench, Chennai, dated 26.03.2010, in ITA No.1901/Mds/2009 for the assessment year 2001-02, confirming the order passed by the Commissioner of Income Tax (Appeals) which in turn has confirmed the order of the Assessing Officer by raising the following substantial questions of law:
(2.) Facts in brief:-
(3.) Heard Shri.N.K.Poddar, learned Senior Counsel for Shri.P.Rajkumar appearing for the appellant / assesee and Shri.K.Subramaniam, learned Senior Standing Counsel appearing for the respondent / revenue.