2009 (11) TMI 468

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....UDGMENT     The judgment of the court was delivered by A. K. Sikri J.- The following questions are proposed to be raised by the Revenue in this appeal on the plea that these are substantial questions of law : "(a) Whether the Income-tax Appellate Tribunal was correct in law in deleting the addition of Rs. 69,62,655 made by the Assessing Officer under section 92 read with s....

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....concerned, we may note that the Assessing Officer had disallowed the addition of Rs. 69,62,655 under sections 92 and 40A(2) of the Income-tax Act. The reason for disallowing, as noted by the Assessing Officer, was that the assessee had imported certain goods from M/s. Denso Corporation, Japan, a holding company at a price higher than similar goods purchased from the local vendors. The Commissioner....

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.... required to compare the said price which prevailed in the local market in the same year. It is a pure finding of fact recorded by the two appellate authorities below and, therefore, no question of law arises. 4. In so far as the question of law proposed at Sl. No. (b) is concerned, the Tribunal has capitalized 25 per cent. of Rs. 2,11,20,147 treating the same as capital expenditure. In support....