9911796707
TMI Blog2023 (2) TMI 1363X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment year 2002-03. Therefore, we are inclined to issue the following direction so as to being a finality to the matter. Taking note of the above factual situation, this appeal stands disposed of clarifying that the order passed by the learned Tribunal impugned in this appeal, need not be tested for its correctness on account of the order passed by the Tribunal for the assessment year 2002-03 as the said order, in effect, would render this appeal incapable of being pursued as the order has worked itself out. Weclarify the position that the order impugned in this appeal passed by the Tribunal need not be given effect to and on account of the deduction granted in the year 2002-03, necessarily, the order passed by the CIT(A) dated 19th De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the learned Tribunal, but simultaneously we are required to clarify certain facts for better clarity. The issue was whether the amount of subsidy of Rs. 3,65,66,602/- received by the assessee from the State government as Sales Tax subsidy was a revenue receipt or a capital receipt. The Assessing Officer by order dated 29th March, 1996 held the same to be revenue receipt. This order was affirmed by the Commissioner of Income Tax (Appeals), Kolkata on 19th December, 1997. The learned Tribunal on an appeal filed by the assessee had reversed the decision of the CIT(A). Aggrieved by such order, the revenue has filed this appeal before this Court. It appears that pursuant to an order passed by the Hon ble High Court of Andhra Pradesh, it was hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the learned senior Advocate appearing for the respondent/assessee has submitted that pursuant to the orders passed by the CIT(A) dated 19th December, 1997, the assessee had paid tax which has now been allowed as a deduction in the assessment year 2002-03 pursuant to the order of the Tribunal dated 5th October, 2006. That apart, no giving effect to the order was passed by the Department pursuant to the impugned order in this appeal dated 18th February, 2005. We further clarify the position that the order impugned in this appeal passed by the Tribunal need not be given effect to and on account of the deduction granted in the year 2002-03, necessarily, the order passed by the CIT(A) dated 19th December, 1997 stands restored. With the above ob ..... X X X X Extracts X X X X X X X X Extracts X X X X
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