- (1.) HEARD learned Counsel on both sides.
(2.) THE issue involved in this case is squarely covered by the judgment of this Court in the case of CIT v. Ponni Sugars & Chemicals Ltd., (2008) 13 DTR (SC) 1 : : (2008) 9 SCC 337. Accordingly, the matter stands remitted to the Tribunal for de novo consideration in accordance with law as laid down by this Court in Ponni Sugars &Chemicals Ltd. (supra). On the merits of the case, it is made clear that all the contentions of the parties are expressly kept open. The civil appeal, accordingly, stands disposed of with no order as to costs.;