2018 (9) TMI 604

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....NA M BHATT (174) ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. This appeal is filed by challenging the judgment of the Income tax Appellate Tribunal dated 16.11.2017. Following questions have been raised for our consideration. "(A) Whether the Appellate Tribunal is right in law and on facts in reversing the order of the CIT(A) and thereby deleting the addition of Rs. 5....

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....dition Tribunal relied on the judgment of the Supreme Court in the case of S. A. Builders, reported in 288 ITR page1. The Tribunal noted that undisputedly the loans and advances were given by the assessee to the subsidiary companies for the purpose of their business and there was no dispute that such advances were utilized by the subsidiaries for their businesses. No question of law in this regard....

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....Officer had accepted lease rental as income of the assessee and taxed the same. It was on this ground that the Tribunal was of the opinion that the depreciation of leased asset cannot be denied. This question therefore also does not require consideration. We are conscious that in case of this very assessee, the question is admitted by the High Court notably in Tax Appeal No.1464 of 2009. The order....