TMI Blog2007 (5) TMI 647X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed 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 allowed the liability of ₹ 14,35,072/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 M/s. Ovil and the payment was remitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 question of law arises for our ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
