2020 (5) TMI 146

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....Y.V. RAVIRAJ, ADVOCATE) RESPONDENT: NONE   JUDGMENT S.SUJATHA J. , This appeal is filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, 'Act') relating to the Assessment Year 2010-11 raising the following substantial questions of law: (1) Whether on the facts and circumstances of the case and law, the Tribunal is right in dismissing the appeal of....

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....e assessment as against nil income declared after giving credit for set-off of loss carried forward. The Assessing authority during the assessment proceedings has noticed that the assessee claimed depreciation of Rs. 10,23,53,309/- as against admissible depreciation of Rs. 1,44,74,986/-. Thus, the Assessing Authority disallowed a sum of Rs. 30,86,504/- and Rs. 4,86,946/- being payment made to harv....

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.... deleted by al lowing the appeal filed by the assessee. On further appeal filed by the Revenue before the Karnataka Appellate Tribunal, the assessee had also filed cross-objection challenging the notice issued by the Revenue under Section 274 of the Act as defective. The ITAT placing reliance on the judgment of this Court in the case of CIT(A) Vs. Manjunatha Cotton and Ginning Factory reported ....