2020 (5) TMI 256

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....ee : Shri Farrokh V. Irani For the Revenue : Shri S.P. Walimbe ORDER PER D. KARUNAKARA RAO, AM : This appeal filed by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-1, Pune, dated 30.05.2017 for the Assessment Year 2014-15. 2. Briefly stated the relevant facts include that the assessee company is engaged in the business of software development and....

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....he learned CIT(A): 1. Ground No.1 - Application of higher tax rate on capital gains Erred in considering tax rate at 30% instead of 20% on long term capital gains earned by the Appellant on sale of intangible property. 2. Ground No.2 - Passing assessment order on non-existent Permanent Account Number (PAN) Erred in passing the Assessment order with PAN of non-ex....

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....u/s 234C of the Act, ld. Counsel seeks direction for early disposal of the same. 6. The ld. DR on the other hand, relied on the orders of Assessing Officer and CIT(A). 7. After hearing both the sides on this issue, we direct the Assessing Officer to take action on the rectification application and dispose of the matter within three (3) months from the date of receipt of this order. 8. Tha....

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....of another decision in the case of M/s. Smita Conductors Ltd. Vs. DCIT in ITA No.4004/Mum/2011, for A.Y. 2006-07, order dated 17.09.2013 and para 4 of the said decision is relevant (page 10 of Paper Book). The relevant lines were read out in the Court. Mentioning that the said decision is approved by the Hon'ble jurisdictional High Court, ld. Counsel brought our attention to page 12 of Paper Book ....