IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.511 OF 2003 INCOME TAX APPEAL (LOD) NO.511 OF 2003 INCOME TAX APPEAL (LOD) NO.511 OF 2003 The Commissioner of Income-tax ..Appellant. V/s. M/s.Shri Laxmi Chemicals (I) Pvt. Ltd. ..Respondent. Mr.P.S.Sahdevan with A.N.Kotangale for appellant. Mr.A.K. Jasani for respondent. CORAM : DR. S.RADHAKRISHNAN AND CORAM : DR. S.RADHAKRISHNAN AND CORAM : DR. S.RADHAKRISHNAN AND J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. J.P.DEVADHAR, JJ. DATED : 6TH MARCH, 2007. DATED : 6TH MARCH, 2007. DATED : 6TH MARCH, 2007. P.C. :- P.C. :- P.C. :- Heard the learned counsel for the appellant and the respondent. The learned counsel for the appellant as well as the respondent state that the Judgment of the Supreme Court in the case of Virtual Virtual Virtual Soft Systems Ltd. V/s. Commissioner of Income-tax Soft Systems Ltd. V/s. Commissioner of Income-tax Soft Systems Ltd. V/s. Commissioner of Income-tax reported in (2007) 289 I.T.R 83 (S.C.) (2007) 289 I.T.R 83 (S.C.) (2007) 289 I.T.R 83 (S.C.) squarely covers the issue raised in the above appeal in favour of the assessee and against the revenue. In view thereof, appeal stands dismissed. (DR.S.RADHAKRISHNAN, J.) (DR.S.RADHAKRISHNAN, J.) (DR.S.RADHAKRISHNAN, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.)