MGN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.28 of 2008 The Commissioenr of Income Tax....Appellant. Vs. M/s.Teem Laboratories Ltd..........Respondent Mr. P.S. Sahadevan with Mr. R. Ashokan for the Appellant. Mr. Subash Nalawade, for the Respondent. CORAM: F.I. CORAM: F.I. CORAM: F.I. REBELLO REBELLO REBELLO & R.S.MOHITE, JJ. R.S.MOHITE, JJ. R.S.MOHITE, JJ. DATED: 26th February, 2009 DATED: 26th February, 2009 DATED: 26th February, 2009 P.C.: P.C.: P.C.: . The Tribunal relied on the judgment of Punjab and Haryana High Court in Prithipal Singh & Prithipal Singh & Prithipal Singh & Co. 249 ITR 670. Co. 249 ITR 670. Co. 249 ITR 670. The same was considered by the Supreme Court in Commissioner of Income Tax vs. Commissioner of Income Tax vs. Commissioner of Income Tax vs. Gold Coin Health Food P. Ltd.,304 ITR 308. Gold Coin Health Food P. Ltd.,304 ITR 308. Gold Coin Health Food P. Ltd.,304 ITR 308. The judgment of the Punjab and Haryana High Court in Appeal preferred to the Supreme Court the appeal was dismissed. The Supreme Court, however, noted that the said judgment is not important as that was in relation to assessment year 1970-71 when explanation 4(a) to Section 271(1)(c) was not in existence.. The law is as laid down in terms of the judgment of in Gold Coin Health Food P. Ltd. (supra). In the light of that the impugned order is set aside and the matter is remanded back to the Tribunal for deciding the matter afresh according to law. Appeal disposed of accordingly. (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.)