CIT Vs. PANACEA BIOTECH LTD.

JUDGEMENT

(1.) CM Nos.358/2012 & 359/2012 in ITA 22/2012

(2.) THESE appeals by the Revenue under Section 260A of the Income Tax Act, 1961 (Act, for short) relate to assessment years 2006 -07 and 2007 -08 and are directed against the orders of the Income Tax Appellate Tribunal dated 30.8.2010 and 17.6.2011. As the issue involved in the two appeals is similar, we are disposing of these two appeals by this common order.

(3.) THE aforesaid addition made by the Assessing Officer as deferred revenue expenditure was deleted by the CIT (Appeals). The tribunal by the impugned orders has affirmed the said deletion and not agreed with the Assessing Officer.