2011 (1) TMI 1415

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.... These three appeals relating to the same assessee pertain to the assessment years, 1999-2000, 2003-04 and 2004-05. The issue involved relates to the allowability of expenditure incurred by the assessee in the assessment years 1995-96. The assessee had incurred the expenditure for establishing the business of manufacturing and sale of Beer and Cold Drinks in that year to the tune of Rs. 1,56,94....

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....ent year 1995- 96. The perusal thereof shows that this issue was specifically deliberated upon by the Assessing Officer and after calling for the explanation of the assessee in this behalf, the Assessing Officer allowed the expenditure to the extent of 10% in that year which would imply that contention of the assessee that the expenditure is to be spread-over a period of ten years to be claimed in....

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....ction 148 of the Act was issued in respect of assessment years 1999-2000, 2000-01 and 2001-02 seeking to reopen the assessments in those years on the ground that expenditure was allowable under Section 35 D of the Act and by allowing the deduction at the rate of 10% in each year, the income had escaped assessment. The assessee preferred appeals against the reassessment orders passed in respect ....

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....ent year 1995-96 when the assessee was allowed to claim deduction at the rate of 10% of the total expenditure incurred by it for four years i.e. for the assessment years 1995-96 to 1998-99 the assessment have become final. Thus, 40% of the lump sum amount incurred in the first assessment year has been allowed as deduction at the rate of 10% in each of these years. That is the factual situation pre....