2014 (7) TMI 688

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....and dissatisfied with the impugned judgment and order dated 14.08.2013, passed by the learned ITAT, Ahmedabad Bench "C", Ahmedabad, in I.T.A. No. 1827/Ahd/2010 for the Assessment Year 2003-04, the appellant-Revenue has preferred the present Tax Appeal with the following proposed substantial questions of law; "(i) Whether, on the facts and in the circumstances of the case, the ITAT was right in ....

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..... The assessee, a private Limited Company engaged as a dealer of tractors, filed return of income for the Assessment Year 2003-04, declaring total loss at Rs. 19,70,649/-. The aforesaid return of income was processed u/s. 143(1) of the Act on 12.03.2004 on the returned income. Subsequently, it was found that there was escapement of income, the assessment was reopened by issue of notice u/s. 148 of....

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....er considered the above submissions of the assessee, however, he did not accept the contention of the assessee and added Rs. 1.09 crores to the total income of the assessee-Company by observing that as the M/s. TAFE Limited had written off the amount of Rs. 1.09, the assessee was required to offer the aforesaid amount for taxation under Section 41(1) of the Act. 3. Feeling aggrieved and dissati....

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.... by the Revenue. Feeling aggrieved and dissatisfied with the order of the learned Tribunal, the Revenue has preferred the present Tax Appeal with the aforesaid proposed substantial questions of law. 4. We have heard Shri. K.M. Parikh, learned Advocate appearing on behalf of the Revenue and perused and considered the order of assessment passed by the Assessing Officer, the order passed by the le....