In Brief
Veejay Marketing appealed against an income tax assessment order upheld by the High Court. The Supreme Court found that the case was directly covered by its earlier decision in ACG Associated Capsules Private Ltd. v. Commissioner of Income Tax, which had settled the relevant legal issue in favour of the assessee. Accordingly, the Court allowed both appeals, set aside the High Court's order, and remanded the matter to the Assessing Officer for reconsideration in accordance with the established precedent.
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