- (1.) COUNSEL for both the parties jointly submit that the substantial question of law, raised in the instant appeals, has been decided by the coordinate Bench of this Court in DB Income Tax Appeal No. 89/2003, Chirali Vs. Commissioner of Income Tax vide judgment dt. 16/02/2015.
(2.) FROM the perusal of the judgment dt. 16/02/2015 passed by the coordinate Bench of this Court in the case of Chirali Vs. Commissioner of Income Tax (supra), it reveals that the following substantial question of law was framed in the same: - "Whether the transactions of counter sale under the facts and circumstances do not involve customs clearance in any customs station as defined in section 2(13) of Customs Act, 1962 - In the judgment dt. 16/02/2015 in the case of Chirali Vs. Commissioner of Income Tax (supra), the coordinate Bench of this Court observed as under: - "The question of law is even otherwise covered by judgment of the Supreme Court in Commissioner of Income Tax Vs. Silver & Arts Palace (supra), which has been followed by the Rajasthan High Court consistently The facts and circumstances of the case are not distinguishable to take a different view in the matter. The question is, thus, decided in favour of the assessee and against the department. The Income Tax Appeal is allowed. The Income Tax Department will proceed in accordance with the decision on the question decided in favour of the assessee."
(3.) IN the light of the judgment dt. 16/02/2015 passed by the coordinate Bench of this Court in the case of Chirali Vs. Commissioner of Income Tax (supra), the question is answered in favour of the assessee and against the revenue and the instant appeals filed by the revenue are accordingly dismissed.;