2012 (8) TMI 144

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....ent. JUDGMENT C.N. Ramachandran Nair, J. - Heard senior standing counsel appearing for the appellant and Shri. Arun Raj appearing for the respondent-assessee. Orders under challenge are those issued by the Tribunal for the assessment years 1995-96 and 1996-97. Even though Tribunal has issued separate orders for both the years the issues raised are almost the same and therefore, we proceed....

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.... (5) Boat Hire charges : Rs. 1,61,183 The first three items appear for the next year also. There is no receipt for boat hire charges received by the assessee for the year viz., 1996-97. For the assessment year 1995-96 another issue involved is deduction of bad debts amounting to Rs.4,59,450 from the total turnover which is a denominator to be applied for working out relief under Section....

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....on of export profit under Section 80HHC of the income-tax Act. Therefore, prima facie the case on merits is against the assessee. The question to be considered is whether the order for assessment was prejudicial to the interest of the revenue justifying revision by Commissioner. In this case the finding of the Commissioner in the orders issued under Section 263 is that the Assessing Officer has no....

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....ot filed appeal and it is open to the department to challenge the order for later year, no matter earlier order of ITAT was not appealed against by the Revenue. Since filing of appeal by the Government is essentially a matter of policy and if there is no substantial benefit of tax the department is free to accept the order of the Tribunal for that year. We therefore feel that the department is fre....