2014 (4) TMI 1288

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..... Mr.S.E.Dastur, Senior Advocate with Mr.Nishant Thakkar i/by Desai & Chinoy, for the Respondent. ORDER P.C.: 1 Having considered the rival contentions and perusing the order of the Income Tax Appellate Tribunal, so also, Section 44 of the Income Tax Act, 1961, we are of the opinion that the Appeal deserves to be admitted. It is ADMITTED on the following substantial questions of law:- ....

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.... to be added back as per the provisions of Clause 5(a) of the First Schedule of the Income Tax Act, cannot be allowed to be added back to the balance of profits as there is no specific prohibition against the allowance of such expenditure under sections 30 to 43B of the Income Tax Act, 1961? (iii) Whether on the facts and in the circumstances of the case and in law the Hon'ble Tribuna....