2010 (2) TMI 407

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....Revenue has approached this court by filing the instant appeal under section 260A of the Income-tax Act, 1961 (for brevity "the Act") challenging the order dated March 25, 2009, passed by the Income-tax Appellate Tribunal, Chandigarh Bench (for brevity "the Tribunal") in I.T.A. No. 1056/Chd/2008 in respect of the assessment year 2005-06. The Revenue has claimed that the following substantial quest....

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....e, the learned Income-tax Appellate Tribunal is right in law in deleting the addition of Rs. 10,70,351 on account of breakage of crockery and cutlery ignoring the fact that the amount in question was in fact a provision and the claim of the assessee was on estimated basis and not on the basis of actual expenditure incurred ? Whether on the facts and circumstances of the case and in law, the assess....

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....ary finding to the effect that the income derived by the assessee-respondent has been in the nature of business income. It is thus evident that an identical issue in respect of the assessment year 1997-98 was decided in favour of the assessee-respondent. On an appeal filed by the Revenue being I.T.A. No. 812/Chandi/2001 it was held by the Tribunal that such income has to be regarded as income from....

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.... 308 ITR 161 (SC) and C. K. Gangadharan v. CIT [2008] 304 ITR 61 (SC) would guide us that once the similar proposition has been accepted by the Revenue in respect of the assessment year 1997-98, then it is not open to it to challenge a similar finding and deviate from its earlier stand. Therefore, questions Nos. 1 and 2 have to be answered against the Revenue and in favour of the assessee-responde....