2014 (2) TMI 1249

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....e Tax Appeals raise common question of law and facts, by a common judgment, they are being decided. However, for the purpose of adjudication, the facts contained in Tax Appeal No.1048 of 2010, wherever necessary shall be referred. 2. The Tax Appeals arise from the order of the Income tax Appellate Tribunal (hereinafter referred to as 'the Tribunal') dated September 11, 2009. The Revenue had raised initially two questions as substantial questions of law for our determination for the assessment year 20002001. However, at the time of admission, the present appeal has been admitted for consideration of Question 'A' alone, which is as follows : "(A) Whether the Appellate Tribunal is right in law and on facts in confirming the order passed ....

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....after referred to as 'the Act'), which takes care of lease transaction with effect from October 01, 1996. 3.3 The Revenue challenged the same before the Tribunal and the Tribunal following its own findings in the assessee's own case in respect of similar transactions with identical facts allowed the claim of the assessee by holding that the transactions of the present year were regular transactions from earlier years and when the view on this subject has already been expressed, the judicial consistency is required to be maintained by the Revenue between itself and the taxpayer and accordingly, the present appeals raising aforementioned question of law for our consideration. 4. We have heard learned Senior Counsel Mr. M.R. Bhatt appear....