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2008 (11) TMI 218 - HC - Income TaxDisallowance of depreciation Rs. 22,67,980 – expenditure on purchase of plant and machinery Rs. 39,46,250 – unexplained expenditure - Commissioner of Income-tax (Appeals) came to the conclusion that the Assessing Officer had erred in treating the value of the said purchases as unexplained expenditure by the assessee - The Commissioner of Income-tax (Appeals) concluded the evidence produced by the assessee in the form of relevant invoices, correspondence with the supplier as well as sales tax declaration form given by the said supplier, and also, the fact that transactions were duly reflected in the books of account of the assessee lent credence to the stand taken by the assessee – C(A) deleted both the additions – ITAT upheld the order of C(A) – held that - There is no question of any perversity in the findings of fact. There is, in our opinion, no question of law, much less a substantial question of law, which has arisen for our consideration – revenue appeal dismissed.
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