2010 (9) TMI 1185

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....ORAL ORDER (Per : HONOURABLE MS.JUSTICE H.N.DEVANI) 1.In this Appeal under Section 260 A of the Income Tax Act, 1961 ("the Act" for short) the appellant-Revenue has proposed the following four questions stated to be substantial questions of law arising for determination by this Court. (1) "Whether the Income Tax Appellate Tribunal was justified in law and on facts in deleting the disallow....

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....lity and was not chrystalised for the year under consideration?" 2.The assessment year is 1995-96 and the relevant accounting period is for the year ended on 31st March, 1995. The Assessing Officer framed assessment vide order dated 23.02.1998 under Section 143(3) of the Act disallowing deduction for lease rent of Rs. 23,07,22,860/- in respect of boilers taken on lease by the assessee. The Asse....

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....see carried the matter in Second Appeal before the Tribunal who vide impugned order dated 14th December, 2000 allowed the said grounds of appeal. 3.Heard Mr. M.R. Bhatt, learned advocate appearing for the appellant and Mr. J.P. Shah, learned advocate appearing for the respondent. 4.It is an accepted position between the parties that the issues raised vide questions 1 and 4 stand concluded by....