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2015 (10) TMI 2122 - KARNATAKA HIGH COURT

2015 (10) TMI 2122 - KARNATAKA HIGH COURT - TMI - Disallowance of deduction of the write off of inventories - Whether the Tribunal was justified in law in not passing the reasoned order in respect of claim of the appellant on the facts and circumstances of the case? - Held that:- Since the appeal filed by the assessee for the assessment year 2002-03 on which reliance was placed was partly allowed by giving certain benefits to the assessee, the order passed by the Tribunal dismissing the appeal a .....

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ce with law. - ITA No. 116 of 2010 (IT) - Dated:- 9-10-2015 - Vineet Saran And B. Manohar, JJ. For the Petitioner : Sri. A. Shankar & M.Lava Advs For the Respondent : Sri. K. V. Aravind & Sri. G. Kamaladhar, Advs JUDGMENT The assessee preferred this appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) being aggrieved by the order dated 20-11-2009 made in ITA No.856/Bang/2008 and the order dated 10-02-2010 made in Misc. Petition No.6/Bang/2 .....

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of total income, balance sheet, profit and loss account and relevant schedule. However, the Assessing Officer disallowed a sum of ₹ 2,23,52,396/- towards inventories written off, as the assessee did not carry on any business during the assessment year 2003-04 and also disallowed various expenditure. Being aggrieved by the same, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals) (hereinafter referred to as the First Appellate Authority for short). The First Ap .....

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