Prem Chand Bansal and Sons Vs. Income Tax Officer, (237 ITR 65) (Delhi)

 The decision in the case of “Prem Chand Bansal and Sons Vs. Income Tax Officer” (supra) the Division Bench of Delhi High Court, as relied on behalf of applicant, was concerned a similar issue as fell for consideration in the decision of Gujarat High Court in the case “Karamchand Premchand Pvt. Ltd.”(supra). The petitioner therein had asserted that the decision of the Jurisdictional High Court in the case of “Escorts Ltd. vs. Union of India, [(1991) 189 ITR 81] (Delhi)” was upset in the decision of the Supreme Court in the case of “Allied Motors (P.) Ltd. Vs. CIT , (1991)...