2004 (6) TMI 22

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....e appellant and having perused the record of the case, we find no merit in the appeal. In other words, we have not been able to notice any substantial question of law in the appeal and since the pre-requisite to entertain the appeal being not present in the appeal; the same deserves to be dismissed in limine. The dispute in substance relates to deleting the disallowance of Rs. 63,363 in respect of interest free loan advanced by the assessee (respondent herein) to one of its sister concern Techno Cast Pvt. Ltd. out of their C.C. loan account. The Assessing Officer did not allow this deduction and added in the income of the assessee holding that no such loan could be given interest free. However, the Commissioner of Income-tax (Appeals) di....

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....her cases, the issue must be pursued on the facts and in law even if it is decided against the Revenue either at the level of the Commissioner of Income-tax (Appeals) or the Tribunal in relation to case; arising out of other assessment years of the same assessee. As in this case if the Revenue was so keen to pursue the issue involved in the case to this court then there was absolutely no reason to give concession by the learned departmental representative. Rather he should have argued the issue on the point of law and should have contended that though the issue involved is decided against the Revenue in some other assessment year; yet, the same may be reconsidered or it may be dealt with again on the merits so that the same can be carried i....