CIT Vs. JRM STEEL PVT LTD

JUDGEMENT

(1.) Applications are allowed subject to all just exceptions. ITA 638 & 639/2012

(2.) The appeals are by the Revenue and they arise out of the order passed by the Income Tax Appellate Tribunal ('Tribunal' for short) on 31.10.2011 in the cross appeals filed by the assessee and the Revenue. In these appeals we are concerned with the order of the Tribunal in ITA Nos.1879-1880/Del/2011, which are appeals filed by the Revenue before the Tribunal in relation to the assessment years 2000-01 and 2001- 02. The order of the Tribunal which is impugned in these appeals was passed in the second round of the proceedings. In the first round of the proceedings, it was the assesse who was in appeal before the Tribunal in ITA Nos.821-822/Del/2007 which were disposed of by the Tribunal by order dated 23.3.2009. This was an agreed order in the sense that both parties before the Tribunal (the assessee and the Revenue) agreed to the following: -

(3.) On these facts the Assessing Officer took the view that the facts remain the same as in the original assessment proceedings and there was no fresh evidence to support the assessee's contention that no cash purchases were made from Jindal Electro Casting Pvt. Ltd., Hissar, to the extent of Rs. 86,87,000/- for the assessment year 2000-01 and Rs. 2,42,71,186/- for the assessment year 2001-02. He accordingly repeated the additions of these amounts in the fresh assessments under Section 69C of the Act.