2013 (1) TMI 859

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... AR ORDER PER A. K. GARODIA: This is a revenue's directed against the order of the learned CIT(A)-XI, Ahmedabad dated 05-06-2012, for the assessment year 2009-2010. 2. The grounds raised by the revenue are as under: "i) The Ld. CIT(A) has erred in law and on facts in directing the A. O. to treat the income from share transactions as LTCG instead of business income. ii....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....06 in ITA No.937/Ahd/2009 dated 15-05-2012. He submitted a copy of the Tribunal decision. 4. We have considered the rival submissions, perused the materials on record and gone through the orders of the authorities below and the Tribunal decision cited by the learned AR of the assessee (supra). We find that this issue has been decided by the learned CIT(A) by following the Tribunal order on the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....account i.e. Rs. 30,153/- being administrative expense, Rs. 25,070/- being interest expenses, Rs. 5,694/- being other expenses and Rs. 9,196/- being depreciation. He drawn our attention to the order of the learned CIT(A) that the learned CIT(A) has already confirmed the disallowance of administrative expenses to the extent of Rs. 35,847/- which is debited to the profit & loss account (Rs.30,153/- ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ncludes Rs. 65,79,796/- on account of purchase and Rs. 9,196/- on account of depreciation and admittedly, no disallowance can be made against these two expenses. Apart from this, whatever amount is debited to the profit & loss account has been disallowed by the assessee itself in the computation on account of interest expenditure and the disallowance to the extent of balance amount of administrati....