LAWS(RAJ)-2015-11-158

CIT Vs. VIMAL CHAND SURANA

Decided On November 11, 2015
CIT Appellant
V/S
Vimal Chand Surana Respondents

JUDGEMENT

(1.) These income tax reference and Income Tax appeals, filed at the instance of both, Revenue and Assessees, since involve common questions of law, and raise common controversy, are being disposed of, as agreed by counsel for the parties, by this common order.

(2.) In DBIT Reference No.4/2003, which relates to the assessment year 1989-90, filed at the instance of Revenue before the Income Tax Appellate Tribunal (for short 'ITAT'), as directed by this court under Section 256(2) of the Income Tax Act, referred the following substantial question of law:-

(3.) DBIT Appeal No.60/2003 : The facts in the instant appeal relates to the same assessee as in IT Reference No.4/2003 but for the assessment year 1991-92. We have already noticed that in Reference no.4/2003, the appeal was allowed by the Tribunal in favour of the assessee, but in the instant case though between the same parties, the appeal of the assessee before the Tribunal was dismissed though the controversy remaining the same and the Tribunal changed its view. The appeal was admitted on following questions of law:-