2016 (7) TMI 697

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.... the order, dated 24/02/2012, of the CIT (A)-38, Mumbai, the Assessing Officer (AO)has filed the present appeal. Assessee-company, engaged in the business of manufactur - ing of TW carbon, filed its return of income on 29/09/2008, declaring total income at Rs. 2. 18 lakhs. The AO completed the assessment, under section 143 (3) of the Act, on 31/12/ 2010, determining the income of the assessee at R....

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...., that it had shown receipt of interest of Rs. 1. 2 lakhs on ICD in schedule fee of the balance sheet, that income accrued on ICD of Rs. 25. 22 lakhs had not been made part of it. Relying upon the decisions of Tamil Nadu Small Industries Development Corporation(242 ITR 122), State Bank of Travancore (158 ITR 102) and Kerala Financial Corporation(210ITR129), he held that interest amount of Rs. 25. ....

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....ompleting the assessment orders u/s. 143(3) r. w. s. 153(3) of the Act for the AY. 2001-02 to 2007-08 the AO had once again made the similar additions, that the FAA following the orders of the Tribunal for the AY. s 1997-98 and other two assessment years deleted the addition, that the appeal filed by the department was dismissed by the Tribunal, that on 8. 12. 2011 the Hon'ble Bombay High Cour....

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.... application filed by the department. Finally, he allowed the appeal filed by the assessee. 4. Before us, the DR stated that the matter is to be decided on merits. As stated earlier none appeared for the assessee. 4. 1We have heard the rival submissions and perused the material before us. We find that while deciding the appeal for the earlier years the Tribunal had decided the issue against ....