2016 (8) TMI 1041

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....pondent ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 28th August, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 200910. 2. The Revenue urges the following question of law for our consideration : " Whether on the facts and in the circumstances....

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....he impugned order of the Tribunal has allowed the respondent assessee's appeal holding that the claim of expenditure of Rs. 62.62 lakhs is permissible under Section 37 of the Act. The impugned order of the Tribunal placed reliance upon the decision of the Apex Court in Commissioner of Income Tax Vs. Woodward Governor India (P) Ltd. 312 ITR 254 to hold that where the loss suffered by an assesse....