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2013 (6) TMI 314 - RAJASTHAN HIGH COURTDisallowance of expenditure - revised return was filed after expiry of the time permitted by Section 139 (5) - Held that:- Although there is a judgment of CIT Tax Vs. M/s. Pruthvi Brokers & Shareholders Pvt. Ltd. [2012 (7) TMI 158 - BOMBAY HIGH COURT] in favour of assessee, but looking to the tax effect involved in this effect i.e. less than of Rs.10,000/- as the total disallowance was of Rs.4540+24,321 this issue is to be kept open for consideration at appropriate stage in appropriate proceedings. The finding of the Tribunal in this regard is maintained as tax effect in this regard is less than Rs. 10,000/-. Admissibility to carry forward of losses and to recompute the deduction under Section 80HHC (1A) - Held that:- This question has already been examined and answered by IPCA Laboratory Ltd. vs. DCIT [2004 (3) TMI 9 - SUPREME Court] wherein the judgment of CIT Versus Shirke Construction Equipments Ltd. [2000 (7) TMI 40 - BOMBAY High Court] in favour of revenue.
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