R.D. Dhanuka, J.

These Appeals under Section 260-A of the Income Tax Act, 1961 (for short 'the Act') arise against the common order dated 5.9.2017 in ITA No.215-216/PAN/2017 which are subject matters of Tax Appeal No.52/2018 and Tax Appeal No. 60/2018 for the Assessment Year 2011-12 and 2012-13 in case of Rajesh P. Timblo and the Order of the Income Tax Appellate Tribunal, Panaji Bench, Panaji in ITA Nos.217 & 218/PAN/2017 for the Assessment Year 2011-12 and 2012-13, in case of Smt. Vidya Rajesh Timblo which are subject matters of Tax Appeals No.55/2018 and 56/2018.

2. All the aforesaid Appeals were heard together and are being disposed of by a common judgment.

3. The Revenue has urged the following questions of law for our consideration.

(A) Whether in law and circumstances of the case the ITAT has erred in deleting the action of the Assessing Officer of disallowing the expenses of Rs. 6,96,00,000/- in respect of payment of liquidated damages made for cancellation of contract during F.Y. 2009-10 ?

(B) Whether in law and circumstances of the case the ITAT was unjustified in allowing the claim made by the appellant at the time of hearing of appeal in respect of allowance of liq