2012 (8) TMI 495

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....CIT(A) dt. 24.3.2005 on following grounds: "1. Expenditure towards Non-Compete Fees-Rs. 75,00,000/- The Ld. CIT(A) has erred both on facts and in law in upholding that the expenditure of Rs. 75,00,000/- towards non-compete fees is not deductible. The Ld. CIT(A) ought to have appreciated that the expenditure was incurred by the company for the business of dealing in automobile sales and servicing....

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....ng the Division Bench of ITAT Mumbai in respect of the additional ground taken by the assessee which goes to the root of the validity of the assessment order passed by the AO, the matter was referred to Learned Third Member u/s. 255(4) of the I.T. Act, 1961 for his opinion in regard to question(s) referred to therein. 4. Ld. Third Member (the then Senior Vice President) vide his order dt. 12.5.20....