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2015 (2) TMI 1322 - AT - Income TaxRevision u/s 263 - claim relating to the Investment written off - HELD THAT:- As brought to our notice that this issue was decided in favour of the assessee by the coordinate bench of Tribunal while considering the appeal filed against the revision order passed by Ld CIT u/s 263 of the Act, vide its order dated 29-7-2011 passed in [2011 (7) TMI 391 - ITAT MUMBAI] to AY 2004-05. We notice from paragraph 15.7 of the order that the Tribunal has expressed the view that, neither the loss on account of diminution in the value of investment shall be allowed as deduction nor any income on investment shall be subjected to the tax. Following the said decision of the Tribunal, we uphold the order of Ld CIT(A) on this issue. Disallowance of leave encashment claim - This issue was also decided by the Co-ordinate bench in [2011 (7) TMI 391 - ITAT MUMBAI] of the order. Following the same, we uphold the order of Ld CIT(A) on this issue. Relief granted in respect of claim relating to the contribution made to Pension and Gratuity fund - Both the parties agreed that this issue is decided against the assessee by the Tribunal [2011 (7) TMI 391 - ITAT MUMBAI]. By following the same, we set aside the order of Ld CIT(A) on this issue and direct the AO to follow the decision rendered by the Co-ordinate bench in its order referred supra.
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