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PR. Commissioner of Income Tax Versus Bhushan Steel Ltd.

2015 (9) TMI 1424 - DELHI HIGH COURT

Appeal is admitted limited to the following two questions of law framed for consideration:

(i) Whether on the facts and circumstances, the ITAT was correct in law in deleting the addition of ₹ 86,19,96,884 being the sales tax exempti .....

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s) not registered in the name of the assessee company? - ITA No. 593/2015 & ITA No. 593/2015 - Dated:- 29-9-2015 - DR. S.MURALIDHAR MR. VIBHU BAKHRU JJ. For the Appellant: Mr. N.P. Sahni, Senior Standing counsel with Mr. Nitin Gulati, Advo .....

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er dated 31st October 2014 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 816/Del/2013 and ITA No. 607/Del/2013 for the Assessment Year ( AY ) 2008-09. 2. Six questions are sought to be urged by the Revenue. 3 .....

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nue and therefore Mr. N.P. Sahni, learned Senior Standing counsel for the Revenue states that the Revenue does not press Question No.3. 4. Question No. 4 concerns the deletion made by the ITAT of the addition of ₹ 8,40,000 on the gr .....

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November 2012 that the said statement was retracted by Mr. Mahindru no sooner a copy thereof was handed over to him. Further there was no evidence to show that any such perquisite was actually paid by the Assessee to Mr. Mahindru. In the circumstance .....

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as been affirmed by the ITAT. 5. Having examined the order of the CIT (A) as well as the ITAT, the Court is of the view that the view taken by the CIT (A) and concurred with by the ITAT is a plausible one. The Court is not persuaded to fr .....

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Fringe Benefit Tax ("FBT") should form part of the book profits in terms of the Explanation 1 to Section 115JB of the Act. Circular No. 8 of 2005 issued by the Department on 29th August 2005 clarifies that FBT will not form part of book pro .....

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oses of Minimum Alternate Tax ( MAT ) under Section 115 JB of the Act. This pertained to the expenditure incurred for earning exempt income under Section 14A read with Rule 8D. The ITAT has rightly held that this being in the nature of disallowance, .....

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