Commr.Of Income Tax,Chennai vs M/S Modern Engineers Const.Co-Op.Sty ...

The Supreme Court held that the issue in the case of Commissioner of Income Tax, Chennai vs. M/s. Modern Engineers Constructions Co-op. Society Ltd. is covered by its previous judgment in Commissioner of Income Tax, Madras vs. Ponni Sugars and Chemicals Limited, 2008 (9) S.C.C. 337. The Court remitted the matter to the Tribunal for de novo consideration in accordance with the legal principles established in the Ponni Sugars case, while keeping all contentions of the parties open. The appeal was disposed of with no order as to costs.