Dipak Kumar Sen, J. - (1.) This reference arises out of the assessments to income-tax of M/s. Snow White Food Products Co. Ltd., the assessee, in the assessment years 1971-72 and 1972-73, the corresponding previous years whereof ended on the 31st December of the calendar years 1970 and 1971, respectively. The ITO, following the assessments in earlier years, included the amounts of Rs. 1,97,657 and Rs. 2,01,517, being interest accrued on loans advanced by the assessee, in the latter's income, rejecting the contention that the assessee had changed its system of accounting, in respect of income from interest, from mercantile to cash.
(2.) In the appeals against the said orders of assessment, the AAC, following an order passed in respect of an earlier assessment year 1969-70 in a similar appeal by the assessee, which was affirmed by the Tribunal, upheld the orders of the ITO.
(3.) The assessee preferred further appeals to the Income-tax Appellate Tribunal. In the appeals, the Tribunal considered its order passed in the earlier assessment year 1969-70. Both the assessee and the Revenue reiterated their respective contentions as urged in the said earlier appeal. The Tribunal followed its earlier order and upheld the addition in the assessment recording that no new issues were raised in the present appeal.;