Dr. S. Muralidhar, J.

Introduction

1. These are seven appeals, five by the Assessee and two by the Revenue, under Section 260A of the Income Tax Act, 1961 (‘Act’). The Assessment Years (‘AYs’) involved are 2006-07 to 2010-11.

2. The Assessee’s appeals, ITA Nos. 643 of 2014, 675 of 2014, 676 of 2014 and 677 of 2014, are directed against the common order dated 23rd May 2014 passed by the Income Tax Appellate Tribunal (‘ITAT’) in ITA Nos. 4924/Del/2011, 6580/Del/2013, 6382/Del/2012 and 3861/Del/2010 for AYs 2006-07, 2007-08, 2008-09 and 2009-10.

3. The Revenue’s two appeals, i.e., ITA No.165 of 2015 and 166 of 2015 are directed against the same impugned common order of the ITAT. The seventh appeal, i.e., ITA No.950 of 2015, is by the Assessee and is directed against the order dated 19th June 2015 of the ITAT in ITA No. 471/Del/2015.

Background facts

4. The Assessee, Bausch & Lomb (India) Pvt. Ltd. (‘BLI’), formerly known as Bausch & Lomb Eyecare (India) Pvt. Ltd., was incorporated on 30th May 2000 under the Companies Act, 1956. It is engaged in the business of manufacturing an