- (1.)ALL these appeals have been preferred by the Revenue under Section 260A of the IT Act, 1961. Appeal Nos. 19 of 2007, 20 of 2007, 31 of 2007 and 32 of 2007 pertaining to asst. yrs. 1991 -92, 1993 -94, 1994 -95 and 1995 -96 respectively have been filed against the consolidated judgment dt. 9th June, 2006 of the Income -tax Appellate Tribunal, New Delhi (for short, the Tribunal) passed in ITA Nos. 1710 to 1713/Del/2004. Appeal No. 70 of 2007 pertaining to asst. yr. 1992 -93 has been filed against the judgment dt. 2nd Nov., 2006 of the Tribunal passed in ITA No. 1577/Del/2004 and Appeal No. 37 of 2007 pertaining to asst. yr. 1993 -94 has been preferred against the judgment dt. 9th March, 2006 of the Tribunal passed in ITA No. 1399/Del/2003. Vide the impugned judgment the Tribunal has confirmed the order the CIT(A) and dismissed the grounds taken by the Revenue.
(2.)SINCE these appeals are based on common set of facts involving common question of law, therefore, they are being decided by one and common judgment. We will refer to the facts in IT Appeal No. 20 of 2007 for brevity.
Briefly stated facts of the case are that the assessee is a non resident company engaged in the business of activities related to oil and gas exploration. The original assessments for above assessment years were completed as under: Asst. yr. Assessment made Date of Order Total incomeunder section assessed1991 -92 143(3) 4.3.1994 Rs. 2,72,96,9431993 -94 143(3) 21.2.1995 Rs. 3,09,59,5401994 -95 143(3) 19.2.1997 Rs. 1,77,00,6201995 -96 143(3) 19.2.1997 Rs. 2,47,06,410

(3.)THE said assessments were revised under Section 154 and a tax rate of 65 per cent (tax 50 per cent + surcharge 15 per cent) was applied for the asst. yrs. 1991 -92, 1993 -94 and 1994 -95. Later on it was noticed by the AO that since the assessee is a foreign company, therefore, rate of tax at 65 per cent is applicable for the asst. yrs. 1991 -92, 1993 -94 and 1994 -95 and 55 per cent is applicable for the asst. yr. 1995 -96. He, therefore, issued notice under Section 148 on 29th May, 2001 for the asst. yrs. 1991 -92, 1993 -94 and 1994 -95 and for the asst. yr. 1995 -96 notice under Section 148 was issued on 8th Feb., 2002.
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