2014 (11) TMI 811

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.... the Income Tax Appellate Tribunal, Mumbai dated 28 December 2011 in Income Tax Appeal No.6009 of 2010. 2. There are five questions which have been formulated and they have been termed as substantial questions of law. They read as under:- "(1) On the facts and in the circumstances of the case and in law, the Ld.ITAT has erred in deleting the addition of Rs. 1,96,85,581/- by placing reliance on t....

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....ted party, being a person specified u/s40A(2)(b) of the I.T.Act, viz. M/s.Maharashtra Marble Company, a proprietary concern of the director of the company, by entering trading transactions with it at lower rate as against the rate worked out by the AO by applying the provisions of section 145(3) of the Act. (4) On the facts and in the circumstances of the case, the Ld.ITAT erred in law in directi....

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....h Court and the same are pending." 3. Mr.Tejveer Singh appearing in support of this Appeal fairly conceded, on instructions, that out of the above reproduced five questions, questions Nos. 1 to 3 and 5 have already been answered against the Revenue and in favour of the Assessee by the Tribunal. The Revenue's Appeal challenging those findings have also been dismissed by this Court. Copies of t....