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These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.

08-01-2019, Accurate Transformers, Section 80IC, 37(1), Tribunal Delhi

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5 months 1 week ago #8305 by amit
Section - 80IC, 37(1), 132, 80C, 153A
Order Date - 08-01-2019
Favouring - Revenue Partly
Court - Tribunal Delhi
Appellant - ACIT
Respondent - Accurate Transformers Ltd.
Justice - H.S. Sidhu JM & L.P. Sahu AM
Citation - 119Taxpundit102
Appeal No. - ITA Nos. 1530, 1531 & 1532/Del/2012
Asstt. Year - 2005-06, 2006-07 & 2007-08

Order

PER : L.P. Sahu, A.M

These three appeals have been filed by the Revenue against separate orders passed by the ld. CIT(A)-III, New Delhi dated 17.01.2012, 30.01.2012 and 31.01.2012 respectively for the assessment years 2005-06, 2006-07 and 207-09. The grounds raised in these appeals read as under : Grounds raised in A.Y. 2005-06:

“1. On the facts and in the circumstances of the case, the CIT(A) has erred in law and on facts in deleting the addition of Rs.11,14,719/- made by the Assessing Officer on account of speed money.

2. On the facts and in the circumstances of the case, the CIT(A) has erred in law and on facts in deleting the addition of Rs.6,00,000/- made by the Assessing Officer on account of unvouched expenses.

3. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the disallowance of Rs.1,55,96,815/- made by the Assessing Officer u/s. 80IC of the Income Tax Act, 1961.

4. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in allowing the additional deduction of Rs.87,270/- in respect of scrap sales declared by assessee and Rs 4,86,408/- in respect of addition on bogus purchase without appreciating the fact that the same were not claimed during the assessment proceedings.

5. The order of the CIT(A) is erroneous and is not tenable on facts and in law.

Grounds raised in A.Y. 2006-07:

1. On the facts and in the circumstances of the case, the CIT(A) has erred in law and on facts in holding that the Assessing Officer was not justified in estimating speed money expenses at Rs.97,16,000/-.

2. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in restricting the addition to Rs.1,01,71,831/- out of additions of Rs.1,23,49.264/- made by the A.O. on account of bogus purchase.

3. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the addition of Rs.7,00,000/- made by the A.O. on account of unvouched business expenses.

4. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the disallowances of Rs.2,26,99,226/- made by the Assessing Officer u/s. 80C of the Income Tax Act, 1961.

5. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in allowing the additional deduction of Rs.10,47,900/- and Rs.24,17,841/- u/s. 80IC out of additional income declared by the assessee on account of scrap sale of Dehradun and Haridwar Unit.

6. The order of the CIT(A) is erroneous and is not tenable on facts and in law.

Grounds raised in A.Y. 2006-07:

1. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the addition of Rs. 1,05,61,660/- made by the Assessing Officer on account of unaccounted income from scrap sales.

2. On the facts and in the circumstances of the case, the CIT(A) has erred in law and on facts in holding that the Assessing Officer was not justified in estimating speed money expenses at Rs.1,08,75,000/-.

3. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the addition of Rs.7,00,000/- made by the A.O. on account of disallowance unvouched business expenses.

4. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the disallowances of Rs.3,54,86,456/- made by the Assessing Officer u/s. 80IC of the Income tax Act, 1961.

5. On the facts and circumstances of the case, the CIT(A) has erred in law and on facts in deleting the amount of Rs.1,75,00,000/- by holding that the same was included twice for the purpose of computing the total income.

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