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The Income Tax Officer Ward-16 (2) Hyderabad Versus M/s. Liquors India Ltd.

Order passed u/s. 263 annulled - Held that:- As the order passed u/s. 263 of the Act dated 29.3.2011 was quashed by the Tribunal for A.Y. 2006-07, there is no surviving order so as to pass consequential order in terms of section 143(3) r.w.s. 263 of the Act. Hence, the CIT(A) is justified in annulling the assessment order dated 30.6.2011 passed u/s. 143(3) r.w.s. 263 of the Act. The ground taken by the Revenue is rejected. - ITA No. 352/Hyd/2013 - Dated:- 9-10-2013 - SHRI CHANDRA POOJARI, ACCOUN .....

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ng and sale of Indian made foreign liquor, bulk drugs and other lines of business. For the A.Y. 2006-07, the assessee company filed its return of income on 30.11.2006 admitting a total income of ₹ 95,25,685. Thereafter, the assessee filed revised return of income on 27.02.2008 admitting a loss of ₹ 2,87,70,415. Original assessment u/s. 143(3) of the Act was completed by the AO on 30.12.2008 determining the total income of the assessee at ₹ 27,26,773 and long term capital gains .....

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dated 29.3.2011 was annulled by the Tribunal vide their order dated 16.11.2012 in ITA No. 692/ Hyd/2011 for A.Y. 2006-07 by observing as follows: "7. Now the CIT, u/s. 263 of the Act, cannot reopen a settled issue and take a different view by alleging various irrelevant facts. The CIT is bound by the order of a higher forum on this issue. More so, the payment of Trade Scheme Expenditure to the same party is subject matter of appeal before this Tribunal. Being so, on the same issue the CIT .....

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ipline that all the authorities below the Tribunal must accept a binding judgement of the Tribunal. A reference to this may be had to the judgement of Bombay High Court in the case of Bank of Baroda vs. H.C. Shrivastava (256 ITR 385) (Bom) and also to the judgement of Madhya Pradesh High Court, Indore Bench, in the case of Aggarwal Warehousing & Leasing Ltd. vs. CIT (257 ITR 235). Thus, the learned CIT should not have committed any judicial impropriety in refusing to follow the order of the .....

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llow the claim is unjustified. Further when one definite stand was taken by the Tribunal consistently on the said issue involving almost identical terms, it cannot be permitted to change the position in this case in the absence of any material difference in the facts. Since the issue involved in the instant case is similar to earlier years as the payment is to the same party, the decision of the Tribunal is binding on the subordinate forum including this Bench. The claim of the assessee cannot b .....

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o account all relevant material and has not taken into account any irrelevant material in basing its conclusion, the decision of the Tribunal is not liable to be interfered with, unless, of course, the conclusions arrived at by the Tribunal are perverse. It is not necessary for the Tribunal in its judgement specifically or any express words that it has taken into account the cumulative effect of the circumstances or has considered the totality of the facts of the case, as if it is a magic formul .....

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