9911796707
TMI Blog2007 (5) TMI 647X X X X Extracts X X X X X X X X Extracts X X X X ..... gainst the order dated 5th September, 2005 passed by Income Tax Appellate Tribunal (in short as 'Tribunal') in ITA No.1260/Del/2002 for the assessment year 1994-95. Vide impugned order, the Tribunal allowed deduction of ₹ 3,58,563/- under Section 36(1)(vii) of the Act on account of export incentives which became irrecoverable during the year under consideration. The Tribunal also al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... im. The Commissioner of Income Tax (Appeal) allowed the claim of the Assessee under Section 36(1)(vii) of the Act. 5. Further, the Assessee had to recover a sum of ₹ 5,64,928/- from its associate concern M/s. Ovil. Since the Assessee had to execute certain export orders, it made a request to the said concern to give payment of ₹ 20 lakhs. The request of the Assessee was acted upon by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the Commissioner of Income Tax (Appeal). We find no infirmity in the reasoning given by the Tribunal and as such no substantial question of law with regard to the deduction of ₹ 3,58,563/- is involved and appeal filed by the Revenue on this issue is dismissed. with regard to the issue of deleting the addition of ₹ 14,35,072/-, we are of the opinion that following substantial qu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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