2011 (5) TMI 912

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....E APPELANT   Shri M. Narayanan : FOR THE RESPONDENT ORDER These 4 matters comprise of 2 appeals of the Department and 2 Cross Objections of the assessee filed against the consolidated order passed by the ld. CIT(A), Tiruchirapalli dated 10.02.2011 relevant to the assessment years 2007-08 and 2004-05 respectively. 2. These matters were heard together, involve somewhat similar issue....

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....not have a long shelf life as the molding process undertaken by the assessee is in a high temperature, the pouring of the molten iron in the moulds makes cracks and breaks in the moulds of and on by which the assessee is compelled to replace the moulds frequently. The ld. AR of the assessee cited the decision of the Tribunal in this regard in assessee's own case for the assessment year 2004-05 dat....

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....s pleaded that firstly the order of the Commissioner passed under section 263 for the assessment year 2004-05 has been reversed by the 'D' Bench of ITAT and secondly on merits also, the issue has been decided in favour of the assessee and the ld. CIT(A), while following the Tribunal's decision on merits has decided both the appeals in favour of the assessee and before us it was submitted that sinc....

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....f the assessee in its favour, but as far as the order of the Assessing Officer for the assessment year 2004-05 (consequent upon 263 order passed by the ld. CIT) is concerned, it is found that such order under section 263 has been set aside by the Tribunal and the Tribunal has also decided the issue on merits in favour of the assessee. The ld. CIT(A) has followed the Tribunal's order and decided th....