2020 (6) TMI 413

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....E HEMANT CHANDANGOUDAR APPELLANTS (BY SRI K V ARAVIND, ADV.)   RESPONDENT (BY SRI A. SHANKAR, SENIOR ADVOCATE FOR SRI M LAVA, ADV.)   JUDGMENT ALOK ARADHE J., This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been filed by the revenue. The subject matter of the appeal pertains to Assessment year 2003-04. The appeal was ....

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....of manufacture and sale of pellets hot rolled coils, sheets and plates. The assessee filed the return of income declaring the loss in respect of the Assessment year 2003-04. The assessee claimed a sum of Rs. 211.57 Crores restructuring package as deduction and further claimed a sum of Rs. 1,89,40,966/- as interest written off. The assessing officer by an order dated 24.03.2006, disallowed the clai....