Tribunal decisions: Dismisses Revenue's appeal, partly allows Assessee's appeal, based on precedents.

Revenue's appeal for AY 2003-04 was dismissed as the Tribunal upheld the deletion of the addition of Rs. 370.69 lakhs under section 68. The Assessee's appeal for AY 2004-05 was partly allowed, directing the AO to allow 50% of the expenses based on a previous Tribunal decision. The Tribunal's decisions were influenced by consistent precedents and the absence of contradictory evidence.

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Issues:
1. Appeal by Revenue against order dated 8.11.2011 for AY 2003-04.
2. Appeal by Assessee against order dated 18.1.2013 for AY 2004-05.

Analysis:

Issue 1 - Appeal by Revenue (AY 2003-04):
- Revenue contested restriction of addition of Rs. 370.69 lakhs under section 68 to 0.15%.
- Assessee cited precedents where similar issues were decided in their favor.
- Tribunal noted consistent acceptance of the assessee's position in various cases.
- Tribunal upheld CIT(A)'s deletion of the addition, citing precedents and lack of contradictory evidence.
- Grounds 1 and 2 by Revenue were dismissed.

Issue 2 - Appeal by Assessee (AY 2004-05):
- Assessee challenged CIT(A)'s confirmation of AO's order and interest levied under sections 234B and 234C.
- Assessee relied on a previous Tribunal decision in their favor for other assessment years.
- Tribunal reviewed the previous decision and directed AO to allow 50% of the expenses, partly allowing the appeal.
- Grounds 1, 2, 3, 6, and 7 were dismissed as general or consequential.
- Grounds 4 and 5 were partly allowed based on the Tribunal's previous decision.

Conclusion:
- Revenue's appeal for AY 2003-04 was dismissed.
- Assessee's appeal for AY 2004-05 was partly allowed regarding expenses and dismissed on other grounds.
- The Tribunal's decision was based on consistent precedents and lack of contradictory evidence.

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