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2019 (7) TMI 668

..... hat both these companies have reported unusually high turnover - HELD THAT:- This Court is of the opinion that the ITAT’s opinion is ex facie untenable. This Court in Chryscapital Investment Advisors (India) pvt. Ltd. vs. Deputy Commissioner of Income Tax [2015 (4) TMI 949 - DELHI HIGH COURT] , had held that unusually high turnover per se cannot be a ground for exclusion and that the AO has .....

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..... tivities.No question of law arises on this aspect. - ITA 425/2019 & CM APPL. 19850/2019 - 29-4-2019 - MR. S. RAVINDRA BHAT AND MR. PRATEEK JALAN JJ. Appellant Through: Mr. Ruchir Bhatia, Sr. Std. Counsel Respondent Through: Mr. Ved Jain, Ms. Umang Luthra and Mr. Kislaya Parashar, Advocates O R D E R 1. Issue notice. Mr. Ved Jain, Advocate accepts notice. 2. Two questions of law are urged by the Re .....

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..... is functional similarity which should be considered rather than the turnover. As a consequence, the impugned order cannot be sustained, on the first question, and is hereby set aside. 5. As for the second question i.e. additional depreciation, the Revenue urges that the items bought and for which said relief was claimed, cannot be termed as equipment. The ITAT had relied upon its previous order g .....

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