2019 (9) TMI 600

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.... behalf of the assessee. Shri A.K. Nayak, Addl. CIT Sr. D/R, appearing on behalf of the Revenue. ORDER Per J. Sudhakar Reddy, AM :- This appeal by the revenue and cross-objection by the assessee are directed against the order of the Learned Commissioner of Income Tax (Appeals)- 21, Kolkata, (hereinafter the "ld.CIT(A)"), passed u/s. 250 of the Income Tax Act, 1961 (the 'Act'), dt. 24/03/20....

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....,06,78,940/- interalia making a disallowance u/s 40(a)(ia) of the Act, and disallowing excess claim of depreciation. 2.1. On appeal the ld. First Appellate Authority, deleted the disallowance u/s 40(a)(ia) of the Act, by holding as follows:- "5. I have considered AO's finding and AR's submission on these issues. The assessee has claimed that the payees have already included income ear....

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....ition and directed the Assessing Officer to verify the same. 3. Aggrieved the revenue is in appeal before us. 4. The ld. Counsel for the assessee, Mr. S.M. Surana, submitted that he concedes that the ld. CIT(A), was wrong in deleting the entire addition as far disallowance u/s 40(a)(ia) of the Act, is concerned. He submitted that 30% of the disallowance may be sustained in view of the amendmen....