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2015 (9) TMI 1424 - DELHI HIGH COURT

2015 (9) TMI 1424 - DELHI HIGH COURT - TMI - 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 exemption claimed as capital subsidy by the assessee?

(ii) Whether on the facts and circumstances of case, the ITAT was correct in law in deleting the addition of ₹ 9,95,426 on account of disallo .....

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ct, 1961 ( Act ) are directed against the order 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. Question No. 3 concerns the synchronization charges in the sum of ₹ 1,72,82,8801 which the Assessing Officer ( AO ) had ordered to be added for the purposes of Section 80IA of the Act. This point h .....

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t, the CIT (A) noted in the order dated 27th November 2012 that the said statement was retracted by Mr.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 circumstances, the CIT (A) was of the view that the statement of Mr. Mahendru which was later retracted by him does not form a sufficient basis to infer that such payment was made to him by the Assessee out of undiscl .....

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5JB of the Act. The question was whether the 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 profits for the purposes of Section 115JB. No substantial question of law arises as far as this issue is concerned. 7. Question No.6 concerns deletion of addition of ₹ 89,00,000 made by the .....

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