- (1.) LEARNED counsel for the appellants submits that the decision of the Delhi High Court relying on which the learned Single Judge has given the decision against the Revenue has been reversed by the Hon'ble Supreme Court and the reference has been made to the decision of the Hon'ble Supreme Court in the case of Asstt. CIT v. J.K. Synthetics Ltd. and Ors. : [2001]251ITR200(SC) .
(2.) HAVING gone through the decision aforesaid, we are satisfied that the judgment of the Delhi High Court relying on which the learned Single Judge has given decision against the Revenue has been reversed. Thus, this appeal succeeds and the same is allowed. The judgment of the learned Single Judge dt, 19th Jan., 1993, is quashed and set aside and the SB Civil Writ Petn. No. 2267/1992 is dismissed. No order as to costs. A copy of this order be sent forthwith to the respondents. The respondents are free to apply for revival of this appeal, in case, where they feel that this matter is not covered by the decision of Supreme Court, aforestated.;