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TMI Blog2015 (1) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... r short "the Tribunal"] in ITA No.2278/Ahd/1999, whereby the appeal filed by the revenue was dismissed by the Tribunal. 3. In Tax Appeal No.1738 of 2005, the appellant-revenue has challenged the judgment and order dated 09.05.2005, passed by the Tribunal in ITA No.1442/Ahd/2001, whereby the appeal filed by the revenue was dismissed by the Tribunal. 4. The facts of these appeals are identical, therefore, we discuss the facts of Tax appeal No.1827 of 2005 for our convenience. 5. The facts, in brief, are that the assessee had filed its return on 29th November, 1996 for the assessment Year 1996-97 and declared total loss of Rs. 56,50,705/-. After scrutiny, the Assessing Officer passed the assessment order under Section 143(3) of the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ord. Therefore, he urged that the present appeals deserve to be allowed. 8. On the other hand, Mr. Soparkar, leaned senior advocate for the respondents-assessees has submitted that the question of law raised in this appeal is already been concluded by the Apex Court in favour of the assessee and against the revenue in the case of Kendarnath Jute Mfg. Co. Ltd. v. Commissioner of Income-Tax (Central), Calcutta, reported in [1971] 82 ITR paged 363. 9. We have heard learned advocate for both the parties and perused the material on record. We have also perused the decision of the Apex Court relied upon by the learned advocate for the respondents-assessees and find that the question of law raised in this appeal is already concluded in favour of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... answered in favour of the assessee and against the revenue. The assessee will be entitled to costs in this court and in the High Court."
10. Since the issue is already concluded, no elaborate reasons is required to be assigned by us for disposing this appeal. In that view of the matter, we are of the considered opinion that the present appeal deserves to be dismissed and the same is accordingly dismissed. The question of law raised in this appeal is answered in favour of the assessee and against the revenue. Accordingly, we hold that the Tribunal was right in confirming the order of the Commissioner of Income-tax (Appeals) and in directing the Assessing Officer to allow the deduction of the liability.
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