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2023 (3) TMI 1056 - HC - Income TaxNature of expenses - Expenses relating to purchase of steel rolls by treating the same as revenue expenditure - HELD THAT:- As relying on SARAVANA SPINNING MILLS P. LTD. [2007 (8) TMI 16 - SUPREME COURT] the expenses incurred for replacement of the steel rolling machine are revenue expenditure and thus the Tribunal was fully justified in dismissing the revenue’s appeal. Thus, we find no ground to interfere with the order of the Tribunal. Deemed dividend u/s 2(22)(e) - Tribunal deleted addition - HELD THAT:- The finding of the CIT(A) remained uncontroverted before the Tribunal and also the fact that the findings were based on documents which were placed for consideration even before the Assessing Officer. Thus, we find that the conclusion arrived at by the Tribunal on the second issue does not call for interference.
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