https://www.taxtmi.com/caselaws?id=374610 The High Court dismissed the Revenue's appeal under section 260A of the Income Tax Act, 1961, concerning various assessment years, particularly focusing on the assessment year 2008-09 for M/s Bhomiyaji Land & Finance Co. The Court upheld the Income Tax Appellate Tribunal's decision to delete an amount of Rs. 39,71,000, as the Assessing Officer failed to prove non-repayment by the Assessee to customers. However, the Court disagreed on the deletion of Rs. 10,86,557, confirming it as net profits. The Court found no legal issues warranting interference and dismissed the appeal for lacking merit. en-us Thu, 17 Jan 2019 00:00:00 +0530 Tue, 05 Feb 2019 06:15:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374610 The High Court dismissed the Revenue's appeal under section 260A of the Income Tax Act, 1961, concerning various assessment years, particularly focusing on the assessment year 2008-09 for M/s Bhomiyaji Land & Finance Co. The Court upheld the Income Tax Appellate Tribunal's decision to delete an amount of Rs. 39,71,000, as the Assessing Officer failed to prove non-repayment by the Assessee to customers. However, the Court disagreed on the deletion of Rs. 10,86,557, confirming it as net profits. The Court found no legal issues warranting interference and dismissed the appeal for lacking merit. Case-Laws Income Tax Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374610