Judgment :- R. Sudhakar,J. 1. The above Tax Case (Appeals) filed by the Revenue as against the order of the Income Tax Appellate Tribunal dated 21.4.2006 were admitted by this Court on the following substantial question of law: "Whether in the facts and circumstances of the case, the Tribunal was right in treating the payments due from defaulting subscribers as bad debt, when there is no relationship of creditor and debtor between them? The above question of law is re-framed as hereunder: "Whether in the facts and circumstances of the case, the Tribunal was right in treating the payments due from defaulting chit subscribers as bad debt, when there is no relationship of creditor and debtor between them? 2. The facts involved in these appeals are that the loss incurred by the assessee on account of payments which were required to be made by the assessee to the chit subscribers on behalf of the defaulting subscribers was treated as bad debts. This was denied by the Assessing Officer. Aggrieved by this, the assessee filed an appeal before the Commissioner of Income Tax (Appeals), who allowed the appeals and on appeal at the instance of the Revenue, the Tribunal confirmed the findings of the Commissioner of Income Tax (Appeals). Aggrieved by the same, the Revenue is before this Court. 3. It is submitted by both the learned Standing Counsel appearing for the Revenue and the learned counsel appearing for the assessee that the issue involved in these appeals has been decided by this Court in respect of very same assessee in respect of previous assessment years in T.C.(A)Nos.996 to 998 of 2005 dated 3.4.2012 and the same may be followed in these cases also. 4. In an identical circumstance, on the issue of bad debts, in respect of the assessee's own case, this Court in T.C.(A)Nos.996 to 998 of 2005, dismissed the appeals filed by the Revenue, thereby confirmed the order of the Tribunal holding as follows: "18.....The question raised before this Court thus is relatable to one part of the Tribunal's order as to whether the defaulted amount paid by the assessee could be treated as a bad debt. 19. It is not denied by the Revenue that the payment made in the course of the business had resulted in a loss of the chit amount which is also allowable under Section 28. 19. It is not denied by the Revenue that the payment made in the course of the business had resulted in a loss of the chit amount which is also allowable under Section 28. Given the above-said fact, we have no hesitation in rejecting the Revenue's appeal on this question." 5. The above-said decision of this Court was followed in T.C.(A)Nos.2533 and 2534 of 2006, 629 of 2007, 1014 of 2008 and lastly in T.C.(A)No.57 of 2010. 6. In such view of the matter, following the above-said decision of this Court, the question of law is answered against the Revenue and in favour of the assessee. Accordingly, the above Tax Case (Appeals) stand dismissed. No costs.