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TMI Blog2014 (11) TMI 887X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee was partly allowed and that of the Revenue was dismissed. 2. Briefly stated, the facts are that the assesse-company is having three divisions, one is the trading division where the assessee is acting as a selling agent of Elecon Engineering Company Ltd. and Power Build Ltd. It is acting as Distributors for Eimco Elecon (I) Ltd. The assesse-company is having written agreements with all the three companies. It is also having a division known as Kanisha Steel, which is in the field of manufacturing steel castings used by Elecon Engineering Co. Ltd. and other allied concerns. So far as the third division is concerned, it is known as Trupti Castings, which is engaged in the manufacturing activity. The manufacturing activity of said Tru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion rendered by this Court in Tax Appeal No.255/2000 decided on 17.11.2014. For ready reference, the judgment and order passed in the aforesaid appeal is reproduced hereunder; "1. This Tax Appeal u/s.260A of the Income tax Act, 1961 is filed against the judgment and order dated 17.11.1999 passed by the Income Tax Appellate Tribunal in ITA No.1129/Ahd/1994 whereby, the appeal was dismissed. 2. Briefly stated, the facts are that the assesse firm filed its return of income on 31.12.1990 declaring income at Rs. 50,26,263/. The return of income was processed by the Assessing Officer and an order u/s.143(3) of the Act dated 29.03.1993 came to be passed against the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal is right in law and on facts in holding that the amount of Rs. 4.50 Lacs contributed by the assessee to the Gujarat Cricket Association cannot be treated as of capital nature and directing the Assessing Officer to allow the same as revenue expenditure?" 7. However, the Appellate Tribunal rejected the aforesaid Reference Application, vide order dated 11.09.1998. It is pertinent to note that the issue, which is subject matter of present appeal, was never carried in appeal before this Court. The Appellate Tribunal followed the same decision in this matter also. 8. Considering the aforesaid factual aspects, the Appellate Tribunal was justified in granting benefit of the earlier years' orders to the assessee, which are final. In view of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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