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TMI Blog2022 (4) TMI 975X X X X Extracts X X X X X X X X Extracts X X X X ..... DGMENT MANMOHAN, J (Oral): 1. Present appeals have been filed challenging the orders dated 02nd March, 2021 passed in ITA 5965/DEL/2017 and ITA 5966/DEL/2017 for the Assessment Years 2013-14 and 2014-15 respectively. 2. Learned counsel for the Appellant-Revenue states that the ITAT has erred in deleting the addition of Rs. 5,64,73,054/-made by the Assessing Officer under Section 36(1)(iii) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proportionate interest expenditure which was not utilized for business purposes. 3. Learned counsel for the Appellant further states that the ITAT has dismissed the appeals on basis of the Assessee's own case for the Assessment Years 2007-08, 2010-11 & 2012-13. He submits that it is a settled principle that in matters pertaining to tax there is no issue of res judicata because each year's assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n if the assessee had its own interest free funds. 5. It is 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i Suzuki India Ltd. [2019] 107 taxmann.com 375 (SC) has emphasized the importance of promoting the 'principle of consistency and certainty' in tax matters. The Apex Court has held "There is a value which the court must abide by in promoting the interest of certainty in tax litigation. The view which has been taken by this Court in relation to the respondent for AY 2011-12 must, in our view be ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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