2017 (1) TMI 1029

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....Suyash Agarwal,Suyash Agarwal ORDER Heard Sri Gaurav Mahajan, learned counsel for the appellant and Shri Suyash Agrawal, learned counsel for the assessee and perused the record. This is an Income Tax appeal filed under Section 260-A of the Income Tax Act, 1961, on behalf of the Department, against the order of the Tribunal dated 12.8.2014, for the Assessment Year 2008-2009. The questions ....

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....? (3) Whether the ITAT was justified in law in upholding the decision of CIT (A) in denying applicability of provisions of Section 154 of the Act, resorted to by the AO, ignoring the ratio of Hon'ble Supreme Court in the CIT vs. British Paints Indian Ltd. [188-ITR-44] that even it was the duty of the AO to consider whether the correct profits and gains could be deduced from the accoun....

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....ited to P & L. Account and whatever expenses related to the credited items should be debited to the P & L Acccount to give more transparency to the financial accounts of assessee? (7) Whether the ITAT was justified in law in upholding the decision CIT (A) without having considered the provisions of Section 43B of the Act in which there is a provision that if the assessee has paid any tax,....

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....hat the excise duty, which was received by the assessee, was passed on by the assessee to the Government Department and, therefore, the excise duty, recovered by it, would not constitute any income to the assessee itself in order to invite the imposition of any tax. Learned counsel for the assessee, Shri Suyash Agrawal, has drawn the attention of this Court to the decision of this Court in the ....