2011 (8) TMI 60

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....JAICHANDREN, J.   This Tax Case (Appeal) has been filed by the Revenue as against the order of the Income Tax Appellate Tribunal dated 9.9.2003 n respect of the assessment year 1991-92. The substantial questions of law arising for the consideration of this Court are as follows:   "1. Whether in the facts and circumstances of the case, the Tribunal was right in holding that the bala....

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....counts, it was noticed by the Assessing Officer that the assessee was maintaining suspense account crediting a sum of Rs.23,77,458/- in the trial balance for the year ended on 31.3.1991. The assesse had furnished the details as under:   Royalty - Rs. 5,50,000/-  P.W.T. - Rs.10,41,647/-  Bonus - Rs. 7,85,811/-  Total - Rs.23,77,458/-  3. In the re....

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....me Tax (Appeals). Accepting the submissions of the assessee, the Commissioner of Income Tax (Appeals) had allowed the appeal, thereby, deleting the addition made by the Assessing Officer. Aggrieved by the same, the Revenue had filed an appeal before the Income Tax Appellate Tribunal.   4. On considering the claim made by the assessee, the Tribunal had held in favour of the assessee stating....

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...., the Tribunal had found that the order of the Commissioner of Income Tax (Appeals), in deleting the addition, is justified. Accordingly, the appeal filed by the Revenue was dismissed. Aggrieved by the same, the Revenue has come before this Court by preferring the present appeal.   5. The main contention of the learned Standing Counsel appearing for the Revenue is that the assessee had not....