2021 (2) TMI 420

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.... expenditure of leasehold land. 3. At the outset, the Ld. AR of the assessee Shri Manish Tiwari drew our attention to the fact that this issue is squarely covered in assessee's own case by the decision of the Tribunal in earlier assessment years i.e. A.Ys. 2009-10 and 2012-13. According to Ld. AR, the assessee had made a payment of Rs. 13.94 cr. for gaining control over the property which was necessary to their smooth running of its hotel business. Therefore, the expenses claimed was amortized and expenditure was claimed from AY 2003-04 onwards which was allowed throughout by the AO u/s. 143(3) of the Income tax Act, 1961 (hereinafter referred to as the "Act") from AY 2004-05 to 2008-09 by passing scrutiny assessment orders u/s. 143(....

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.... principles of res judicata are not applicable in the income tax proceedings as each of the assessment years is an independent assessment year, but there must be substantial ground for the revenue to differ if the view taken by the Assessing Officer in the preceding assessment year. Our aforesaid view is duly supported by the decision of the Hon'ble jurisdictional High Court in the case of CIT Vs., Hindustan Motors Limited reported in 192 ITR 619. We, therefore, respectfully following the decision of the Hon'ble jurisdictional High Court confirm the order of CIT(Appeals) in respect of the Ground No. 1 delete the addition of Rs. 58,66,864/-." 4. And according to the Ld. AR this view has been reiterated by the Tribunal in assessee&....