TMI Blog2013 (5) TMI 530X X X X Extracts X X X X X X X X Extracts X X X X ..... ) or AO, thus this needs to be considered in arriving at the conclusion whether the assessee was carrying any business. Some of the expenses have been allowed by the CIT (A) in assessment year 2007-08 which have not been allowed for the assessment year 2006-07. The additional ground raised that AO failed to record a finding determining the amount of business losses to be carried forward to the subsequent years available for adjustment in future, as per provisions of law. This was not raised before the CIT (A) Thus as assessee has submitted certain additional documents which were not before the authorities below as well as raised certain grounds which were also not before the authorities below matter is remitted to the file of the AO t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expenses at Rs. 75,89,548/-. 3. That alternatively on the facts and in the circumstances of the Appellant Company's case the DCIT, Circle (1), New Delhi erred in not allowing credit for brought forward unabsorbed depreciation of earlier years, against the income assessee by him under the head "Other Sources". That the appellant craves, leave to add, alter, amend, substitute, forego any or all the grounds of appeal before or at the time of hearing." ADDITIONAL GROUND That the Assessing Officer failed to record a finding determining the amount of business losses to be carried forward to subsequent years available for adjustment in future as per provisions of law." 4. The grounds raised in Asstt. Year 2007-08 and additional grounds r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17,00,000/- 15,00,000/- Nil allowed by Assessing Officer 2 Depreciation 18,88,676/- 11,28,230/- Allowed At Rs. 11,28,230 by Assessing Officer and upheld by Ld. C.I.T. (A) 3 Managerial and Administrative Staff 4,67,216/- 4,67,216/- Nil allowed by Assessing Officer 4 Security Expenses 1,86,913/- 1,86,913/- Nil allowed by Assessing Officer 5 PF/ESI 34,746/- 34,746/- Nil allowed by Assessing Officer 6 House Tax 1,68,110/- 1,68,110/- Nil allowed by Assessing Officer TOTAL 44,45,661/- 34,85,215/- 3.2 That on the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax (A) erred in upholding the order of the Assessing Officer regarding the disallowance of business expenses on the ground that the business of the assessee has closed down. 6. In this cases the Assessing Officer has observed that assessee company was earlier authorized distributor of Maruti Udyog Limited (MUL) and it was engaged in the sale and servicing of vehicles manufactured by MUL. However, this business activity was stopped during the previous year relevant to assessment year 2006-07. There was no business activity related to MUL. However, during the period the assessee company had a Joint Venture agreement with M/s Autolink Enterprises I Pvt. Ltd. to undertake the activity of repair and maintenance of vehicles, which wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly Hon'ble Supreme Court of India held that termination to be illegal and restored the license. The said business was recommenced in assessment year 2003-04. In this regard, assessee submitted letter dated 20.11.2012 of BPCL and order of the Hon'ble Apex Court dated 16.12.2011; (iii) motor workshop business as Najafgarh to repair cars, buses and trucks etc. 9. Considering the above, we find that there is no mention in the orders of the authorities below that assessee was also engaged in the petrol pump business. Assessee is submitting that petrol pump license was terminated by the BPCL on 16.5.2000, but was eventually restored upon Hon'ble Apex Court decision in this regard. We find that the commencement of the petrol pump business occurr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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