TaxTMI 
TaxTMI 
2024 (7) TMI 94
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...."Tribunal"). The Assessment Year in question is 2000-2001. The Revenue has proposed the following questions of law:- 1) Whether on the facts and circumstances of the case and in law, the ITAT was right in allowing advertisement expenditure (deferred revenue) as revenue expenditure for A.Y. 2000-01 without considering that the assessee has made different entries in the audited books of accounts and in the return of income and there is no such concept of deferred revenue expenditure as per the I.T. Act? 2) Whether on the facts and circumstances of the case and in law, the ITAT was right in allowing Voluntary Retirement Scheme (VRS) paid by the assessee to its employees for A.Y. 2000-01 as revenue expenditure, without appreci....
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....rly appears that the questions of law would stand covered by the previous orders passed in the assessee's own case and the decisions rendered on such issues, which we discuss hereunder:- Question No. 1 : 4. Insofar as Question No. 1 is concerned, it appears to be not in dispute that while deciding the issue, the Tribunal has referred to its order on the assessee's own case pertaining to the Assessment Year 1997-98, decided in favour of the assessee. The orders passed by the Tribunal were assailed by the Revenue before this Court in Income Tax Appeal No. 1197 of 2018, which came to be dismissed by a Co-ordinate Bench of this Court by an order dated 7 March, 2024. In such appeal, the relevant question similar to the question No. 1, as r....
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....ition to persuade us that nonetheless the Court would be required to consider the said question of law and the rule of consistency for any reason could be departed. We have, therefore, no hesitation in accepting the contention as raised on behalf of the assessee, that in these circumstances such question of law would not arise for consideration of the Court. Question No. 2 : 6. Insofar as this question is concerned, on a perusal of the impugned order, it is seen that the Tribunal has followed the decision of this Court in the case of Commissioner of Income-tax Vs. Vs. Bhor Industries Ltd. 264 ITR 180 which was decided in favour of the assessee. We have perused the said decision of the Division Bench. It clearly appears that in the con....
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....f the matter, we are of the opinion that the advances which were paid by the assessee to M/s. Project Development India Limited for the assessment year in question being treated as revenue expenses, was rightly accepted by the Tribunal by the impugned order. For these reasons such question of law would not arise for our consideration. Question No.4 : 8. Insofar as this question is concerned, we find that the Tribunal has relied on the assessee's own case pertaining to the Assessment Year 1997-98 in deciding the issue in favour of the asssessee. The department had assailed the order passed by the Tribunal pertaining to the assessment year 1997-98 in Income Tax Appeal No. 1197 of 2018. Such Appeal was dismissed by a Division Bench of th....