2013 (10) TMI 116

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....EMENT:- The revenue has come up in this appeal aggrieved by the order passed by the Income Tax Appellate Tribunal in ITA No.302/Bang/2008 dated 11/07/2008 for the assessment year 2003-2004. 2. The assessee is engaged in the business of transport. Return of income was filed on 28/11/2003 declaring income of Rs.1,83,90,075/-. At the time of assessment, the Assessing Officer made certain additi....

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....rse and arbitrary being contrary to law and material on record? 6. We have heard Mr. Raviraj, for the revenue and Mr. Parthasarathi for the assessee. 7. The short question that arises for our consideration is:    Whether the assessee has explained the investment made and the expenses incurred in case of construction of building and whether the interest has to be disallowed or no....