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2014 (7) TMI 1353 - AT - Income TaxComputation of taxable profits - Exclude from the taxable profits, the sales tax exemption benefit which is included in Sales and which is taxed in the assessment order as part of profits of the business - HELD THAT:- We find that an identical issue has been adjudicated by the Tribunal [2011 (8) TMI 1154 - ITAT MUMBAI] and the matter is restored to the record of the Assessing Officer to examine the additional evidence filed by the Assessee and then decide the issue as per law. Since the issue is identical for both the years, therefore, additional ground No.1 raised for the assessment year 1999-00 also stands disposed off in the same terms and directions to AO as given in para 27 to 27.2 of the impugned order. Accordingly the additional ground No.1 stands disposed off.e Expenditure incurred on assets not owned - allowable revenue or capital expenses - HELD THAT:- As identical issue has been decided by the Tribunal for the assessment year 1995-96 and by following the order of this Tribunal the AO has allowed the claim of the Assessee while passing the order giving effect to the order of this Tribunal. We find that AO has already allowed the claim of the Assessee as raised in additional ground No.2 for the assessment year 1999-00 [2011 (8) TMI 1154 - ITAT MUMBAI] while passing the giving effect order dated 28/03/2013. Therefore, the additional ground No.2 raised for the assessment year 1999-00 becomes infructuous as AO has allowed the same being consequential to the assessment year 1995-96 in which the said claim was allowed by this Tribunal.
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