2019 (5) TMI 1425

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....swinder Sandhu, Jr. Standing Counsel ORDER AJAY KUMAR MITTAL, J. 1. This order shall dispose of a bunch of two appeals bearing ITA Nos.348 and 349 of 2018 as according to learned counsel for the appellant, identical issues are involved therein. For brevity, the facts are being extracted from ITA-348-2018. 2. ITA-348-2018 has been preferred by the revenue under Section 260A of the Income Tax....

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....ITA-348-2018 as narrated therein may be noticed. The assessee was engaged in the business of manufacturing of Denim Fabrics, Denim Garments and trading in textiles goods. It filed its return for the assessment year 2011-12 on 28.9.2011 declaring total loss of Rs. 27,00,69,713/-. The assessment was completed under Section 143(3) of the Act by the Assessing Officer vide order dated 13.3.2014 (Annexu....

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....al and deleted the disallowances mentioned at Sr. Nos. I, II and VI (out of disallowance of Rs. 2,86,58,780/- under Section 14A of the Act, deleted the disallowance of Rs. 2,84,91,705/-) and upheld the disallowances mentioned at Sr. Nos. III, IV and V. The revenue filed an appeal before the Tribunal challenging the disallowances mentioned at Sr. Nos. II and VI. The Tribunal vide order dated 21.12.....