1981 (5) TMI 53

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....x erred in law in treating the amount of Rs. 5,755 invested on new construction of cemented storage taken as an item of revenue expenditure." 2. At the assessment stage, the ITO added back Rs. 5,755 holding the same to be an expenditure in the nature of capital expenditure since the ITO was of the opinion that the assessee has constructed a tank and which tank was of capital nature. However, he....

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....ITR 428(Mad). 4. The revenue is in appeal and we have heard the ld. Deptl. Rep. at length. We have also heard the ld. counsel for the assessee as also we have given our careful consideration to the facts of the case as are found out from the orders of the lower authorities. We have also perused the paper books since placed on our file for and on behalf of the assessee. 5. The assessee is adm....

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....(All), 122 ITR 977 (Del), 122 ITR 995 (Bom), (1980) 16 CTR (Mad) 248 and (1980) Taxman-5 (SC) in the case of L.H. Sugar Factory & Oil Mills Pvt. Ltd. O.P. BHURDWAJ, A.M. While I agree that the Deptl. appeal has to be dismissed. I do so for a different reason. 2. The ld. Deptl. Rep. had relied on the provisions contained in sub-s. (1A) of s. 32 of the IT Act in support of the Deptl. appeal....