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2022 (4) TMI 975 - HC - Income TaxDisallowance of interest expenditure u/s 36(1)(iii) - Whether ITAT has failed to appreciate that the assessing company had used the borrowed funds for non-business purposes and states that the Company earned interest income at an average rate of 7.6% while on loans the assessee company paid interest at an average rate of 12.1% ? - HELD THAT:- An admitted position that the facts and circumstances in the present appeals (for the Assessment Years 2013-14 and 2014-15) are similar to the facts and circumstances for the Assessment Years 2007-08, 2010-11 and 2012-13 to which the aforesaid orders dated 21st December, 2018 and 08th February, 2019 pertain. It is pertinent to mention that no appeal has been filed under Section 260A of the Act till date challenging the orders dated 21st December, 2018 and 08th February, 2019. Undoubtedly, the principles of res-judicata and estoppel are not applicable in taxation matters. However, it has been held that a departure from a finding during the past years would result in a contradictory finding. (See: Commissioner of Income Tax vs. Sridev Enterprises [1991 (1) TMI 52 - KARNATAKA HIGH COURT]. In fact, in Commissioner of Income Tax vs Excel Industries Ltd [2013 (10) TMI 324 - SUPREME COURT] the Court had observed that it was not appropriate to allow reconsideration of an issue for a subsequent assessment year if the same “fundamental aspect” permeates in different assessment years. This Court is of the view that all similar matters should receive similar treatment except where factual differences require a different treatment so that there is assurance of consistency, uniformity, predictability and certainty of judicial approach. Applying the said principles, this Court is of the opinion that no question of law arises for consideration in the present appeals and the same are dismissed.
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