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2020 (7) TMI 401 - HC - Income TaxAllowable business expenses u/s 37 - main object of the company was hotel business - HELD THAT:- Factual position needed to be considered, as the assessee company, though was incorporated on 17.2.2006, till the financial year 2010-11, did not enter into its hotel business, which was the main object, for which, the assessee company was incorporated. Since the impugned order passed by the Tribunal did not give any independent reasons for allowing the assessee's appeal to follow the earlier decision in the assessee's own case, which order now stands confirmed because the appeal filed by the Revenue before this Court having been withdrawn on the ground of low tax effect, necessarily the factual position needs to be adjudicated by the Tribunal as it is the last fact finding forum in the hierarchy of remedies available under the Act. Tax case appeal is allowed, the impugned order is set aside and the matter is remanded to the Tribunal for a fresh consideration in accordance with law.
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