2014 (10) TMI 580

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.... Mr. A. K. Jasani ORDER P. C. 1. Both these appeals purport to raise the same question and styled as a substantial question of law. That is formulated by the Revenue at page 7 of the paper-book in Income Tax Appeal No.578 of 2012. The question reads as under:- "Whether on the facts and in the circumstances of the case and in law the Income Tax Appellate Tribunal was justified in upholding the ....

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....ome Tax Act, 1961 [the I.T. Act]. In that regard, Mr.Mistri has taken us through the paper-book in Income Tax Appeal No.578 of 2012. He first points out the order of the assessing officer on the relevant issue in question. He then also invites our attention to the finding of the Commissioner and the Tribunal to urge that the issue was, whether interest free security deposit, as it was refundable, ....

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....23(1)(b) of the I.T. Act. It also relied upon the judgment of the Full Bench of the Delhi High Court in the case of Commissioner of Income Tax V/s. Moni Kumar Subba reported in [2011] 333 ITR 38 (Del) Mr.Ahuja, therefore, submits that the reference to sub-clause (a) of section (1) of section 23 of the I.T. Act is correct. 6. Without entering into this controversy but finding that the notional int....