2014 (8) TMI 350

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Advocate. For the Respondent : Mr. Rajesh Katoch, Advocate ORDER Ajay Kumar Mittal,J. 1. This order shall dispose of ITA Nos.426 and 428 of 2006 as according to the learned counsel for the parties, the substantial question of law raised in both the appeals is identical. However, the facts are being extracted from ITA No.426 of 2006. 2. ITA No.426 of 2006 has been preferred by the r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....It filed its return of income for the assessment year 1995-96 showing income of Rs. 14,41,02,270/-. The assessee is a manufacturer and exporter of cotton yarn, woolen hosiery garments and also trades in cotton yarn. The assessment was framed by the Assistant Commissioner of Income Tax, Central Circle V, Ludhiana on 17.3.1998, Annexure 1 at income of Rs. 14,46,36,553/-. Deduction under section 80HH....