2015 (7) TMI 1183

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.... PER J.SUDHAKAR REDDY, ACCOUNTANT MEMBER This is an appeal filed by the revenue directed against the order of the Commissioner of Income Tax (Appeals) dated 17.9.2014 for the assessment year 2011-12 on the following grounds :- 1. "On the facts & in the circumstances of the case, the Ld. CIT(A) has erred in deleting the disallowance of Rs. 1,45,985/- on account of Molasses Reserve Fun....

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....alf of the revenue and Shri M.P. Rastogi on behalf of the assessee. 3. On a careful consideration of the facts and circumstances of the case and a perusal of the papers on record and the orders of the authorities below we hold as follows :- 4. Ground No. 1 is on the deletion of disallowance of Rs. 1,45,985/- on account of Molasses Reserve Fund . At page 19 para 8 the first appellate authorit....