2012 (11) TMI 628

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....J. For Appellant : Mr.T. Ravikumar Standing Counsel For Respondent : Ms. G. Vardhini Karthik JUDGMENT K.RAVICHANDRABAABU,J.) The Revenue is on appeal in respect of assessment year 1996-97. The following are the substantial questions of law raised at the time of admitting the appeal. "1. Whether in the facts and circumstances of the case, the Tribunal was right in holding that expens....

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....on in respect of sum of Rs.15,02,119/-, the assessee, before the first Appellate Authority, had given a break up details with regard to the expenses meted out by the assessee in respect of the share issues, which are as follows:-   1. Despatch and out of pocket exp. Rs. 2,07,616.50 2. Registration Fees Rs. 50,000.00 3. Printing expenses Rs. 32,989.00 4. Listing Fees Rs....

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....te Authority, the Revenue went on appeal before the Income Tax Appellate Tribunal. The Tribunal rejected the appeal filed by the Revenue and confirmed the order of the first Appellate Authority by holding that the findings given by the Commissioner of Income Tax (Appeals) does not warrant any interference as the Commissioner of Income Tax (Appeals) has given categorical findings as to which are th....

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....nature, the same has been rightly rejected by the Commissioner of Income Tax (Appeals). Likewise, while considering the other expenses, the Commissioner has given categorical finding that the nature of the expenses is only revenue, as those expenses are to meet out the day today transactions of the business of the assessee.   5. In view of the factual finding rendered by the Commissioner o....