2020 (2) TMI 847

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Commissioner of Income Tax (Appeal)-I, Raipur, in relation to the assessment year 2014-15, came to be allowed. 2. The assessment was finalized in terms of Section 143(3) of the Income Tax Act as per order dated 27-12-2016, by making an addition of Rs. 1,94,31,98,824/- to the income declared; which came to be challenged by filing an appeal before the Commissioner of Income Tax (Appeals)-I. The merit was considered, but interference was declined and the appeal was dismissed as per order dated 30-11-2017. This was taken up by the assessee by filing a further appeal before the Tribunal as aforesaid, which ultimately led to the order dated 23-10-2018 (Annexure A-1); which is put to challenge in this appeal; contending that the Tribunal ha....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cash or mercantile system of accounting regularly employed by the assessee and once the method has been chosen it should be employed regularly by the assessee and assessee may not be permitted to change it in the subsequent years? 3. Whether on points of law and on facts & circumstances of the case, the Ld. ITAT was justified in setting aside the decision of the CIT(A), thereby giving a sweeping general observation that since in subsequent years no contrary view was taken by the AO, thence the addition of Rs. 1,94,31,98,824/- in the financial year in hand cannot be upheld, thereby ignoring the fact that each income tax proceeding is separate and distinct and the precedent of Res-Judicata is not applicable to Income Tax proceedings,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rat (GR) Government Resolution. We observed that the surplus which was earned by the assessee for the activities carried out on behalf of the Government of Gujarat belonged to the Government and payable to the Government along with interest after deducting of commission earned by the assessee. We further observed that the commission income earned by the assessee on the activities carried on behalf of the Government and other income from its own activities are taxable in the hand of assessee. 5.1 We have further noticed that in the earlier assessment year the assessing officer has accepted the similar accounting practices followed in the case of the assessee. We considered that surplus earned on behalf of the Government for carrying....