2015 (2) TMI 950

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....mar For the Respondent : None ORDER P. C. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 6th June, 2012 passed by the Income Tax Appellate Tribunal (the Tribunal) for the Assessment Year 2006-07. 2. The Revenue has formulated the following questions of law for our consideration: "(1) Whether on the facts and in the circumstances o....

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....s held that the provisions of Section 36(1)(viii) did not extend the benefits of deduction to banking companies until the section was amended by the Finance Act 2006 w.e.f. 01.04.2007 and the amendment has been held to be prospective, i.e. A. Y. 2007-08?" 3. We find that the impugned order dated 6th June, 2012 has held that there was no occasion for the Commissioner of Income Tax to exercise it....

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....r issues, no appeal has been filed on this issue. 5. We have on an earlier occasion in the case of CIT v/s. Smt. Veena G.Shroff have observed in our order dated 27th January, 2015 that when Revenue challenges the order of the Tribunal which in turn relies upon another decision rendered by it on the same issue, then in cases where the Revenue has accepted the order by not preferring any Appeal a....

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....nal which they would challenge in the Appeal before the this Court. Uniformity in treatment at the hands of law is a basic premise of Rule of Law. We trust that the Revenue would take appropriate steps to ensure that the aforesaid directions be implemented in all subsequent matters which are pending Admissions before this Court. If this exercise is done by the Officers of the Revenue, precious tim....