JUDGMENT

A.M. Khanwilkar, J.

The moot question involved in the present appeal bears upon the applicability of the doctrine of mutuality qua the assessee company, a fully owned subsidiary of Yum! Restaurants (India) Pvt. Ltd. (for short, "YRIPL"), formerly known as Tricon Restaurants India Pvt. Ltd., incorporated for undertaking the activities relating to Advertising, Marketing and Promotion (for short, "AMP activities") for and on behalf of YRIPL and its franchisees.

2. This appeal assails the final judgment and order dated 1.4.2009 passed by the High Court of Delhi at New Delhi (for short, "the High Court") in I.T.A. No. 1433 of 2008 wherein the question of taxability of Rs. 44,44,002/- (Rupees forty four lakhs forty four thousand two only), being the excess of income over expenditure for the Assessment Year 2001-02, was settled in favour of the Revenue and against the assessee, thereby confirming the orders of the Income Tax Appellate Tribunal (for short, "the Tribunal"), Commissioner of Income Tax (Appeals) [for short, the "CIT(A)"] and the Assessing Officer. The preceding forums, without any exception, have returned consistent verdicts refusing to acknowledge the assessee company