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of <h1>Assessee wins ITAT appeal, Rs. 4,12,720 disallowance overturned as capital expenditure.</h1> <h3>BEMCO HYDRAULICS LTD. Versus DEPUTY COMMISSIONER OF INCOME TAX.</h3> BEMCO HYDRAULICS LTD. Versus DEPUTY COMMISSIONER OF INCOME TAX. - TTJ 078, 416, The Appellate Tribunal ITAT Panaji ruled in favor of the assessee for asst. yr. 1991-92. The dispute was regarding the disallowance of Rs. 4,12,720 as capital expenditure by the AO and CIT(A). The Tribunal found the issue debatable and not prima facie disallowable under s. 143(1)(a) of the IT Act, thus accepting the appeal of the assessee.
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