2014 (11) TMI 850

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....OCATE FOR THE RESPONDENT : MR RK PATEL, ADVOCATE JUDGEMENT Per: K S Jhaveri: 1. By way of these References, the following point was referred to the Income Tax Appellate Tribunal, Ahmedabad Bench 'B' for consideration:-            "Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in ....

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....utilised any amount during the previous year for the purchase of any new ship, new aircraft, new machinery or plant, without depositing any amount in the deposit account under clause (a)," 3. Learned Senior Counsel also drew the attention of the Court to the decision rendered by the Patna High Court in the case of Commissioner of Income-Tax v. Chanchani Brothers (Contractors) Pvt. Ltd. reported....

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....eme of the Act as also to Sub-Clause 4, i.e. Manner of Deposit which reads as under:-     "(3) Every subsequent deposit shall be made into the deposit Office at which the account stands by crossed cheque or demand draft drawn in favour of such office at a bank situated at the place where the deposit office is situated" (Emphasis given)." Learned Senior Counsel therefore, conte....