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2019 (11) TMI 104
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....hildiyal Counsel for Respondent:- Suyash Agrawal ORDER Heard Sri Gaurav Mahajan along with Sri Manu Ghildiyal, learned counsel for the appellants and Sri Suyash Agrawal, learned counsel for the respondent-assessee. Present appeal under Section 260-A of the Income Tax Act has been filed assailing the judgment and order of the Income Tax Appellate Tribunal, Delhi Bench "G" New Delhi (her....
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....tified in confirming the order of CIT(A) in deleting the disallowance of Rs. 1,03,353/- made by the assessing officer on account of disallowance of lease rental paid in respect of plant and machinery taken on hire ignoring the fact that payment are merely financial arrangements but have been given a color of sale and lease back transactions?" (3) "Whether on the facts and in the circumsta....
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....f under billing in respect of free sale of sugar without appreciating that the Indian Evidence Act clearly speaks that when documentary evidence is available no oral evidence can be adduced?" At the very outset, counsel for the respondent-assessee placed before the Court a copy of judgment passed in Income Tax Appeal No. 390 of 2006 (Commissioner of Income Tax, Muzz. Nagar and another v. M/S Ma....
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....made addition of Rs. 59,65,900/- on account of under recording of sales. The CIT(A) on appeal filed by assessee recorded a finding that newspaper quotation only gives general market trend and it cannot be the basis for calculating the suppress sale and held that merely on newspaper quotation, assessing officer was not justified in making addition of the said amount and thus deleted the addition....