TaxTMI 
TaxTMI 
2014 (11) TMI 1169
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....the Respondent/assessee : Mr.J.P.Khaitan,Senior Advocate ORDER This appeal under section 260A of the Income Tax Act has been preferred by the appellant/revenue against the order dated 29th November, 2013 passed by the learned Income Tax Appellate Tribunal 'A' Bench, Kolkata in ITA No.590/Kol/2012 relating to assessment year 2007-08 on the following questions : 1. Whether on the facts and in t....
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....erest of Rs. 12,87,900/- on stricky loans was not warranted by disregarding that the assessee followed mercantile system of accounting and as per accounting standard interest accrued should have been recognized on accrual basis ? 4. Whether on the facts and in the circumstances of the case Ld.Tribunal hasd erred in law in dismissing the Appeal of the revenue and upholding the order of CIT (Appeal....
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....r depreciation on such plant and machinery ? 6. Whether on the facts and in the circumstances of the case conclusion arrived at by the Ld.Tribunal in granting the aforesaid relief to the assessee, is perverse ? Heard Mr.Nizamuddin, learned advocate for the appellant and Mr.J.P.Khaitan, learned Senior Advocate for the respondent/assessee. We do not find any substantial question of law involved in....
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....n submits that he has no instruction whether a Special Leave Petition against the said judgement has been preferred. We admit the question no.2 for adjudication in this appeal. By consent of the parties, the appeal is treated as ready for hearing and taken up as such. We find computation of the amount of expenditure relateable to exempted income of the assesssee must be made since the assessee ha....