COMMISSIONER OF INCOME TAX Vs. WIMCO SEEDLINGS LTD

JUDGEMENT

(1.) THE captioned appeals being three (3) in number are directed against a common judgment of the Income Tax Appellate Tribunal (hereinafter referred to as the Tribunal) dated 22.02.2008. ITA No.1367/2008 relates to Assessment Year 1991-1992; ITA No.1368/2008 pertains to Assessment Year 1990-1991, while ITA No.1391/2008 pertains to Assessment Year 1989-1990. 1.1 THE short issue involved in these appeals is: whether common expenses incurred by an assessee can be allocated towards taxable and non-taxable income under the provisions of Section 14A of the Income Tax Act, 1961 (hereinafter referred to as the I.T. Act?) as it stood at the relevant point in time.

(2.) IT is important to note that this court has passed orders from time to time in ITA No.1367/2008, which has been virtually treated as the lead case. On perusal of the order-sheets pertaining to ITA No.1367/2008, it is found that on the very first date when the said appeal was moved i.e., 03.12.2008, it was pointed out to the Revenue that since the impugned judgment of the Tribunal was based on its own decision, rendered on the same issue, for Assessment Year 1994-1995; which was in favour of the assessee whether the Revenue had preferred an appeal against the said decision. Since then, several adjournments for the past three years have been taken on this ground alone.

(3.) WHAT amazes us is that the revenue did not deem it fit to file an appeal (if it otherwise was of the view that the judgment of the Tribunal raised substantial questions of law which deserved the attention of this court) by taking recourse to an application, seeking exemption from filing the certified copy of the judgment.