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2018 (11) TMI 274 - HC - Income TaxGain on account of sale of land - LTCG or STCG - Held that:- CIT(Appeals) granted relief to the assessee by treating the sale consideration arising out of the land as long term capital gain and that arising out of the sale of building as short term capital gain. He, therefore, restricted the addition made by the Assessing Officer. The Tribunal confirmed the view of the CIT(Appeals) observing that he has rightly treated the sale consideration arising out of the sale of land as long term capital gain. With this view, we are in broadly agreement. No question of law therefore arises. Disallowance of provision of Warranty expenses - Held that:- Tribunal noted that the assessee had been making such claim consistent with the past which was never disallowed by the assessing officer in scrutiny the assessment order except the one which was reversed by the CIT(Appeals). The Tribunal relied on the decision of the Supreme Court in the case of Rotork Controls India Private Limited v. Commissioner of Income Tax [2009 (5) TMI 16 - SUPREME COURT OF INDIA] and Bharat Earth Movers v. Commissioner of Income Tax [2000 (8) TMI 4 - SUPREME COURT] and observed that the provision for the warranty was estimated by the assessing officer by scientific basis and was therefore allowable. - Decided in favour of assessee.
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