2013 (11) TMI 562

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....i K V Aravind, Adv. JUDGMENT D V SHYLENDRA KUMAR. J., This appeal by the Revenue is directed against the common order dated 13.03.2013 passed by the Income Tax Appellate Tribunal, Bangalore Bench 'C', Bangalore in ITA No.672[BNG]/2012. 2. The assessee is a company and the assessment year is 2007-2008. The questions raised in the appeal read as under: "1. Whether, on the facts and in....

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.... section 37 of the Income Tax Act, 1961 [for short 'the Act'] by the Assessing Officer. However, the Commissioner exercising his suo motu revisional powers under section 263 of the Act revised that order and held that it cannot be allowed as deductible expenditure. 4. Being aggrieved, the assessee preferred an appeal to the Appellate Tribunal. 5. The Appellate Tribunal noticed that there was....