2014 (10) TMI 786

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..... By way of this appeal, the appellant- Revenue has challenged the impugned judgment and order passed by the learned Income-tax Appellate Tribunal, Ahmedabad Bench 'B' in ITA No. 1387/AHD/2002 for the assessment year 1994-95, whereby, the appeal of the ori. Appellant-department was dismissed. 2. This appeal was admitted to consider the following question of law: "Whether the Appellate Tribunal i....

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....iv)/47(v) read with section 46(2) of the I.T. Act on the basis of ITAT decision rendered in ITA No. 5936/A/91 dated 21.7.93 in the case of Brahmi Investment P. Ltd. The AO instead of following the decision of the Tribunal, followed the decision of the CIT(A) rendered in the case of Alkapuri Investments Pvt. Ltd., and held that the amount of Rs. 1,44,330/- being surplus distribution over the capita....