2011 (9) TMI 667

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....osed of.   3. C. M. No. 17033 of 2011 (delay) in I. T. A. No. 1092 of 2011.-For the reasons stated in the application, the delay in filing the appeal is condoned.   4. The application stands disposed of.   5. I. T. A. No. 1092 of 2011.-During the assessment proceedings the Assessing Officer found that the assessee had incurred the expenditure of Rs. 93,91,706 debited in the profi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....that of the Revenue. It is under these circumstances, the present appeal is filed challenging the order passed by the Appellate Tribunal.   7. In so far as severance cost of employees is concerned, it may be noted that the assessee-company had started manufacturing of powdered soft drink in the name and style of "Tang". However, during the year in question they decided to stop its manufactur....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....that turnover of the assessee in the assessment year 2005-06 became nil because of the stoppage in the manufacturing activity. However, in the assessment year 2006-07, it again raised to Rs. 3,02,15,240, which further appears to be more than Rs. 15 crores in the assessment year 2007-08. This clearly indicated that the manufacturing activity in the year in question was simply suspended and the said....