2009 (2) TMI 88

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.... M. Bhatt for the Respondent. JUDGMENT JUSTICE D.A.MEHTA - In all the four Appeals by a common order dated 25.06.2003, following common questions have been formulated by this Court at the time of admission: "1. Whether the Tribunal has rightly applied the principles of finding out the cost of right shares laid down by the Supreme Court in the decision of Miss Dhun Dadabhoy Kapadia V. C....

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....556 of 1999. Hence, it is not necessary to set out facts and contentions in detail. 4. Question No. 1 is therefore answered in 'negative'. The Tribunal was in error in reading and applying the Apex Court decision in case of Miss Dhun Dadabhoy Kapadia V. CIT, (1967) 63 ITR 651 in the manner it did so as to hold that the renunciation of entitlements to the rights to subscribe to convertible deben....

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....e to the conclusion that the fact situation was identical, to the one obtaining in a decided matter, no coordinate bench of the Tribunal has any right or jurisdiction to record a contrary decision, entirely contrary to the one reached by another coordinate Bench of the same Tribunal on same set of facts and circumstances. Mere difference in the Members manning the Tribunal does not vest the subseq....