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Principal Commissioner of Income Tax-I, Kolkata Versus M/s. Rajami Barter Private Limited

2016 (8) TMI 965 - CALCUTTA HIGH COURT

Allowance of non-business expenditure - Whether Learned Tribunal was justified in law to allow the non-business expenditure claimed to have been given to a third party on oral understanding only? - Held that:- The question suggested by the revenue ha .....

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or the services rendered by him. - Mr.Sinha is unable to improve the situation. He, as a matter of fact, did not advance any submission in support of the question suggested. We, as such, are of the opinion that there is no merit in the appeal. We .....

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e For Respondent ORDER The Court : The subject matter of challenge in the appeal is a judgment and order dated 20th January, 2016 passed by the Income Tax Appellate Tribunal, B Bench, Kolkata in ITA No.876/Kol/2013 pertaining to the assessment year 2 .....

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to allow the non-business expenditure of ₹ 1,10,00,000/- claimed to have been given to a third party on oral understanding only. The facts and circumstances of the case briefly stated are as follows:- The assessing officer refused to allow an .....

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heir subsequent delivery to the parties or following up payments thereof . In an appeal preferred by the assessee, the order of the assessing officer was reversed by the CIT(A) taking into account the additional evidence adduced by the assessee. Copi .....

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he impugned assessment order as would appear from the order of the CIT(A). The CIT(A) was of the opinion that a sum of ₹ 1,10,00,000/- was paid by the appellant M/s.Ganco SS Pvt. Ltd. For managing a turnover of 45,833 metric tonnes of the mater .....

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