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2016 (11) TMI 369 - HC - Income TaxAdministrative expenditure - Held that:- A perusal of the chart shows that not only trend of administrative expenses have gone progressive in assessment years 1986-87, 1987-88 and 1988-89 but there is much increase in assessment year 1989-90. There was no justification to assume that administrative expenses of 1988-89 were same as that of 1986-87 and CIT (Appeals) has not given any cogent reason whatsoever, to accept this profitability that is why in light of difference in receipts of expenses shown by the assessing officer, Tribunal has not accepted the same and in our opinion rightly so. Tribunal has not found the finding of CIT (Appeals)acceptable and reversing the same, it has accepted profitability as assessed by assessing officer. It is no doubt true that appellate authority cannot pass order of dismissal/rejection without reversing/upsetting findings recorded by Court/ authority below which has not been done by CIT (Appeals) in the present case. For reasons aforesaid, Tribunal has discussed profitability as accepted by CIT (Appeals) and found the same not justified or correct, has rightly declined to accept the same. Order of Income Tax Appellate Tribunal restoring assessment order cannot be said to be faulty or erroneous in any manner.
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