learned counsel for the Appellant
relied upon Indus Power Tech Inc. v. Echjay Industries (P) Ltd. 2024 SCC
OnLine Bom 3349, to submit that though
High Court relied upon
by the learned counsel for the petitioner in Echjay Industries Pvt. Ltd. Vs
Director of Income Tax-II, Writ Petition
Tribunal as well as of the Bombay. High Court in CIT v. Echjay Forgings (P) Ltd. . Reliance was also placed on the decision
Sultan Tobacco Co. Ltd. ( 1988) 173 ITR 567 (AP) and CIT v. Echjay Industries (P) Ltd. (1995) 214 ITR 27 (Bom) are applicable
decision of
the Bombay High Court in the case of CIT vs. Echjay Forgings Pvt. Ltd. :
(2001) 251 ITR 15 (Bom.) where the Bombay High
