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2015 (9) TMI 963 - PUNJAB & HARYANA HIGH COURT

2015 (9) TMI 963 - PUNJAB & HARYANA HIGH COURT - TMI - Entitlement to deduction under section 80P(2)(iii) - Held that:- Once the claim was never made by the Assessee before the Assessing Officer, the same would not arise for consideration in the present appeal.In view of the above finding, question No.(a) does not arise.

Denying deduction on account of interest on stiky loans being the interest doubtful of recovery - Held that:- The same is covered against the assessee by the decision .....

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spent for the purchase of ACC sheets, dryer and construction of boundary wall. Learned counsel for the assessee was unable to substantiate that the said expenditure would qualify as revenue expenditure in the facts and circumstances of the present case - ITA No. 986 of 2008 - Dated:- 25-8-2015 - Ajay Kumar Mittal And Ramendra Jain, JJ. For the Petitioner : Mr. S. K. Mukhi, Adv For the Respondent : Mr. Yogesh Putney, Adv ORDER Ajay Kumar Mittal, J. 1. The assessee has filed this appeal under Sect .....

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case, the Income Tax Appellate Tribunal was justified on facts and in law in confirming the findings of the authorities below while denying deduction to the appellant society of its income under section 80P (2)(a)(iii) of the Income Tax Act, 1961 despite the fact that the issue stands referred to the Full Bench of this Hon'ble Court in ITA No.232/2003? b) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was justified on facts and in law in confirmi .....

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law in concurring with the findings of the AO that the amount spent on repair and maintenance of the building and construction of boundary wall thereof was capital expenditure instead of revenue as claimed by the appellant? 2. A few facts relevant for the decision of the controversy involved as narrated in the appeal may be noticed. The assessee Cooperative society filed its return declaring income of ₹ 43,868/- under the head house property. In computation of income, net profit from busin .....

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er dated 31.3.2005, Annexure A.3. Aggrieved by the order, the assessee filed appeal before the Commissioner of Income Tax (Appeals) [CIT(A)]. Vide order dated 14.7.2005, Annexure A.2, the appeal was partly allowed. Both the appellant and the revenue went in appeals before the Tribunal. Vide common order dated 28.5.2008, Annexure A.1, the Tribunal partly allowed the appeal of the assessee and dismissed that of the revenue. Hence the instant appeal by the assessee. 3. We have heard learned counsel .....

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"It is observed from the order of the Commissioner of Income Tax (A) that the claim of the assessee has not been entertained on two grounds firstly, the assessee had not made any claim either in the original return or in the revised return; secondly, for the assessment year 2000-01, it was held that the assessee is not entitled to deduction under section 80P(2)(iii) of the Income Tax Act, 1961. In the light of the above facts, we find no justification to interfere with the order of the Comm .....

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