Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (5) TMI 530 - ITAT DELHIIncome from joint venture - income from other sources v/s Business income - disallowance of expenses - Held that:- There is no mention in the orders of the authorities below that assessee was also engaged in the petrol pump business. Assessee is submitting that petrol pump license was terminated by the BPCL on 16.5.2000, but was eventually restored upon Hon'ble Apex Court decision in this regard. Thus commencement of the petrol pump business occurred much after the orders of CIT (A) in this regard. Hence, the additional documents in the shape of letter of BPCL dated 20.11.2012 and order of the Hon'ble Apex Court dated 16.12.2011 were not before CIT (A) or AO, thus this needs to be considered in arriving at the conclusion whether the assessee was carrying any business. Some of the expenses have been allowed by the CIT (A) in assessment year 2007-08 which have not been allowed for the assessment year 2006-07. The additional ground raised that AO failed to record a finding determining the amount of business losses to be carried forward to the subsequent years available for adjustment in future, as per provisions of law. This was not raised before the CIT (A) Thus as assessee has submitted certain additional documents which were not before the authorities below as well as raised certain grounds which were also not before the authorities below matter is remitted to the file of the AO to consider the issues afresh - both the appeals filed by the Assessee stand allowed for statistical purposes.
|