Commissioner Of Income-Tax vs Panna Knitting Industries on 12 February, 2002
(I) CIT v. Shri Arbuda Mills Ltd. (supra)
(II) CIT v. Panna Knitting Industries (supra)
(III) CIT v. Kwality Restaurant & Ice Cream (supra)
All the above referred cases have been considered by us. In our view, these cases are distinguishable on facts and they are not directly applicable.