- (1.) HEARD learned Counsel on both sides.
(2.) DELAY condoned. Leave granted. By consent, the matter is taken up for final hearing.
(3.) THE narrow controversy is - whether, on facts and circumstances of this case, the respondent [assessee herein] was not entitled to deduction in view of the law laid down in the Judgement of the Division Bench of this Court in the case of Commissioner of Income Tax v. Sri Mangayarkarasi Mills Private Limited reported in : (2009) 315 I.T.R. 114?;