In Brief
Veejay Marketing challenged the High Court's order upholding income tax assessments made by the Commissioner of Income Tax. The Supreme Court found that the case was governed by its earlier decision in ACG Associated Capsules Private Ltd., which established principles favourable to the assessee. Applying that precedent, the Court allowed the appeals, set aside the High Court's order, and remanded the matter to the Assessing Officer for fresh consideration in accordance with the established legal principles.
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