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TMI Blog2015 (1) TMI 251X X X X Extracts X X X X X X X X Extracts X X X X ..... KAR, ADVOCATE JUDGEMENT Per: K S Jhaveri: 1. This appeal u/s.260A of the Income Tax Act, 1961 is filed against the judgment and order dated 13.03.2003 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'A' in ITA No.301/AHD/1996 whereby, the appeal filed by the Revenue was allowed in part for statistical purpose. 2. Briefly stated, the facts are that the assessee is a Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the appeal of the Revenue for statistical purpose, vide impugned judgment and order dated 13.03.2003. Hence, this appeal at the instance of the Revenue. 4. This appeal was admitted on 20.04.2006 in respect of the following questions of law; "Whether on the facts and in the circumstances of the case, the Appellate Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e it in accordance with para-4 of this order. As regards other items we find that the facts and figures are suggested to verification and to be examined in the light of the relevant decisions of ITAT Ahmedabad Bench and others as cited in the chart. The judgments of jurisdictional HC on the issue are to be followed. Under the circumstances, we send back item a, b, e & g to the file of AO with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of ACG Associated Capsules P. Ltd. v. Commissioner of Income-tax, [2012] 343 ITR 89 (SC) wherein, it has been held that ninety per cent of not the gross rent or gross interest but the net interest or net rent, which had been included in the profits of business of the assessee as computed under the head "Profits and gains of business or profession", was to be deducted under clause (1) of E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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