Tribunal rules in favor of assessee, citing consistency with previous decision.

The Tribunal upheld the assessee's grievance against the addition of Rs. 42,09,41,720 for alleged on money in specific projects for the assessment year 2012-13, citing consistency with a previous decision in the assessee's favor for the preceding year. The Tribunal emphasized the importance of factual distinctions to deviate from established rulings, leading to the deletion of the addition and granting relief to the assessee. The Commissioner (DR) acknowledged the similarity between the assessment years, underscoring the binding nature of precedents in decision-making.

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Issues:
Appeal against CIT(A) order for assessment under section 143(3) of the Income Tax Act for the assessment year 2012-13.
Grievance regarding addition of Rs. 42,09,41,720 on account of alleged on money in specific projects.
Consistency in approach between assessment years 2011-12 and 2012-13.

Analysis:
The appeal was filed against the CIT(A) order for the assessment year 2012-13, challenging the addition of Rs. 42,09,41,720 on account of alleged on money in certain projects. The representatives agreed that the issue was similar to a previous year's decision in the assessee's favor. The Commissioner (DR) argued against blindly following the previous decision without demonstrating any factual distinctions between the two assessment years. However, the Tribunal found no reason to deviate from the earlier decision, stating that unless distinct differences were shown, they were bound to follow the precedent. The Commissioner (DR) acknowledged the material similarity between the two assessment years, leading to the Tribunal upholding the assessee's grievance and directing the Assessing Officer to delete the addition of Rs. 42,09,41,720. Consequently, the assessee received the relief sought.

This judgment highlights the importance of consistency in decision-making and the binding nature of precedents set by the Tribunal. It emphasizes the need for factual distinctions to be presented to warrant a deviation from established rulings. The Tribunal's decision in this case was based on the lack of demonstrated differences between the assessment years, leading to the assessee's appeal being allowed and the addition being deleted.

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