TaxTMI 
TaxTMI 
2020 (10) TMI 1320
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.... convenience, the Tax Appeal No.278 of 2020 is treated as the lead matter. 3. This tax appeal under Section 260A of the Income Tax Act, 1961(for short "the Act, 1961") is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'C' dated 31.01.2020 in the ITA No.2350/Ahd/2015 for the A.Y.2010.11. 4. The Revenue has proposed the following questions for the consideration of this Court; "A) Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs. 34,14,124/- made u/s 40(a)(a) of the Act without appreciating that the assessee failed to bring any evidence on record to the effect that the payments made are covered under ....
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....as pointed out specific examples of under invoicing which has been dismissed by way of generic finding? I) Whether the Appellate Tribunal has erred in ignoring crucial findings of AO including that sister concern operates from tax exempt jurisdiction and assessee has incurred huge advertisement expenses in foreign markets? J) Whether the Appellate Tribunal has erred in stating that net profit of 46.38% is not possible when the Hon'ble Karnataka HC has held in CIT vs. Vesesh Infotechnics Ltd. 210 Taxman 522 that even a profitability of 94.8% is possible?" 5. Having heard Ms. Mauna Bhatt, the learned senior standing counsel appearing for the Revenue and having gone through the materials on record, we are of the view t....
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.... to or incorporated in the order. 3 In such circumstances referred to above, we modify our order as under: "1. Since the assessee in both the captioned appeals is the same, those were taken up for hearing analogously and are disposed of by this common order. 2. We first take up Tax Appeal No.278 of 2020. 3. This Tax Appeal under Section 260A of the Income Tax Act, 1961(for short "the Act, 1961") is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'C' dated 31.01.2020 in the ITA No.2350/Ahd/2015 for the A.Y.2010.11. 4. The Revenue has proposed the following questions for the consideration of this Court; "A] Whe....
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....and on facts in deleting the addition of Rs.13,44,47,290/- made on account of under invoicing of sales made to sister concern? H] Whether the Appellate Tribunal has erred in law in not upholding any part of the addition more particularly when AO has pointed out specific examples of under invoicing which has been dismissed by way of generic finding? I] Whether the Appellate Tribunal has erred in ignoring crucial findings of AO including that sister concern operates from tax exempt jurisdiction and assessee has incurred huge advertisement expenses in foreign markets? J] Whether the Appellate Tribunal has erred in stating that net profit of 46.38% is not possible when the Hon'ble Karnataka HC has held in CIT vs. ....
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....enue in both the captioned appeals are the same and the assessee is also the same, those were taken up for hearing analogously and are being disposed of by this common order. 2. For the sake of convenience, the Tax Appeal No.278 of 2020 is treated as the lead matter. 3. This tax appeal under Section 260A of the Income Tax Act, 1961(for short "the Act, 1961") is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'C' dated 31.01.2020 in the ITA No.2350/Ahd/2015 for the A.Y.2010.11. 4. The Revenue has proposed the following questions for the consideration of this Court; "A) Whether the Appellate Tribunal has erred in law and on facts in deletin....