TaxTMI 
TaxTMI 
2009 (7) TMI 707
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....ction 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), arises out of the order of the Income-tax Appellate Tribunal dated July 26, 1999. It has been admitted on the following two substantial questions of law : "1. Whether on the facts and in the circumstances of the case and on the basis of material available on the records, the Income-tax Appellate Tribunal was legally co....
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....aimed bad debt of Rs. 6,27,735 on the ground that major shareholding of the respondent-assessee was with M/s. Roto Pumps and Hydraulic Ltd. and most of the activities by the assessee-company were for the said shareholder. The assessee had taken plant and machinery on lease from the said shareholder company. A sum of Rs. 6,27,735 was lying under the head "Sundry debtors" which the company was not a....
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....nsel for the respondent-assessee. 5. Sri Upadhyay learned standing counsel submitted that the Commissioner of Income-tax (Appeals) has wrongly put the onus upon the authority to say that the amount in question have not been claimed as deduction in computing the income in any of the previous year and therefore the order of the Tribunal upholding the deletion is not justified. 6. We have gone thro....