2007 (12) TMI 214

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....Sanjay Kumar, B. V. Balaram Das, Advocates, with him) for the appellant. Rajiv Dutta, Senior Advocate (Ms. Garima Prashad, Advocate, with him) for the respondent. ORDER 1. Leave granted. 2. The respondent is a private limited company. It carries on the business, inter alia, of hire-purchase. Respondent took on lease a land with existing structure. The lease deed was entered into on Oct....

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....he Tribunal. Vide order dated 17th June, 2005, the Tribunal held that hire charges received by the assessee were liable to be assessed as business income and not as income from property.  Against the above notices under Section 148 reopening the assessments, the assessee, however, filed Writ Petition No.656/2001. The assessee also filed separate writ petition for each of the assessment year i....

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....o long as this view of the Tribunal stands and is not reversed either by the Tribunal or by superior Court, all subordinate authorities of the Income Tax Department will continue to follow the view in accordance with the settled law in respect of the petitioner for the other assessment years, unless there is a factual departure in the situation in future, i.e. after the assessment year 1997-98." ....

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....s to whether the respondent-assessee had filed revised returns pursuant to the notices under Section 148 of the Income Tax Act, 1961. 7. Before concluding we may clarify that in this case there were two separate proceedings involved, viz., order of Commissioner of Income-tax (Appeals) plus proceedings under section 148. Unfortunately, all proceedings are clubbed in the writ petitions. We do not....