2014 (2) TMI 1309

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....ment year 2008-09 is directed against the order of the CIT(A)-II, Baroda dated 25.06.2012. 2. The ground nos.1 and 2 of the appeal of the assessee are as under: "1. That on facts and in law, the ld.CIT(A) has grievously erred in confirming the addition of Rs. 3,00,000/- u/s.68 of the Act. That on facts and in law, it be held that the said ground is not pressed before CIT(A) on bonaf....

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....e is entitled to set off of business loss against the addition made under section 68 of the Act. He submitted that the CIT(A) has wrongly relied on the decision of the Hon'ble jurisdictional High Court in the case of Fakir Mohamed Haji Hasan Vs. CIT, (2001) 247 ITR 290 (Guj), of which the facts were totally different. He submitted that the issue is covered in favour of the assessee with the decisi....

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....ted by the Department of Custom should be allowed as deduction to the assessee out of its income chargeable to tax. I find that the decision of the Hon'ble Gujarat High Court in the case of CIT Vs. Shilpa Dyeing & Printing Mills P. Ltd., (supra) is applicable to the facts of the case of the assessee. In this case, the decision of the Hon'ble Gujarat High Court in the case of Fakir Mohamed Haji Has....