STATE BANK OF BIKANER JAIPUR Vs. CIT

JUDGEMENT

(1.) THESE four appeals arise out of the order passed by the Tribunal on 12th Oct., 2001, in each case on an application moved by the appellant -assessee under Section 254(2) of the IT Act for rectifying its order dt. 22nd Feb., 2000 passed in appeals relating to asst. yrs. 1993 -94, 1994 -95, 1995 -96, 1996 -97 (four years).

(2.) THE controversy for the present purpose pertains to the assessment of the income derived by the appellant -assessee by way of interest on debentures and securities for the aforesaid assessment years. The controversy has earlier' been raised relating to the asst. yrs. (sic -1989 -90), 1991 -92 and 1992 -93 which has been subject -matter of the decision of the Tribunal passed in ITA Nos. 5/Jp/1992 and 1060 and 1061/Jp/1994 decided by a common order dt. 29th Oct., 1998.

(3.) THE AO has rejected the claim of the assessee and enhanced the income declared by the assessee by disallowing the claim of the assessee for reducing its income which was claimed to have not become due to be received during the relevant accounting period.