2012 (12) TMI 822

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....espondent. JUDGMENT 1. The present appeals are directed against the three orders of the Income Tax Appellate Tribunal (ITAT) dated 19.08.2011 for the Assessment Years 2005-06, 2006-07 and 2007-08. The question of law sought to be urged on behalf of the Revenue is: "Whether the Tribunal fell into error in holding that the discounting charges earned by the assessee from Indian parties by discount....

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....unting fees earned by the assessee as interest income on the loans extended by the assessee to its customers. The CIT (Appeal) on being approached by the assessee confirmed the order of the AO. the Tribunal in the appeals filed by the assessee, analysed the nature of discounting services provided by the assessee to its customers and applied its ratio in the previous ruling, i.e. ITA 684/Del/2009 f....

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....eleted the main addition in respect of taxability of discounting charges as interest income. This issue in the light of our observations would require to be readjudicated. In other words, it is consequential in nature." 3. This Court notices that in the decision of the Court confirming the previous ruling of the Tribunal (reported as CIT v. Cargill Global Trading Ltd. [2011] 335 ITR 94, the Court....