Income Tax Officer vs Shri I. Seshagiri Rao, Prop. Sri ... on 2 August, 2006
Presumably that might be the reason for the assessee, who through the voice of the same counsel, surrendered before the Tribunal without any uncertain terms that the appeal was covered against the assessee and in favour of the revenue by the decision of the Income Tax Appellate Tribunal in the case of ITO v. Late C.Seshagiri Rao in ITA No.2320/Mds/1996 decided on 23.05.2002. As rightly contended by the learned counsel for the revenue, the assessee cannot approbate and reprobate the issue in different forms in respect of the same issue. In order to make it clear, we are of the view that it is better to extract that portion of the order of the Tribunal, where the assessee conceded that the issue has been covered by an earlier judgment against the assessee. The extract is under :