2015 (8) TMI 1558

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....Department : Shri Manjit Singh, DR For the Assessee : Shri Jai Karan Singh ORDER PER BHAVNESH SAINI,JM The department appeal as well as Cross Objection by assessee are directed against the order of ld. CIT(Appeals)-II Ludhiana dated 15.10.2014 for assessment year 2011-12. 2. The departmental appeal is filed on the following grounds : 1) Whether on the facts and in the circu....

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....Vs. Goetze (India) Ltd. dated 09.12.2013 in ITA No. 1179/2010. 3. The ld. counsel for the assessee did not press Cross Objection filed by the assessee and seeks permission to withdraw the same. The Cross Objection of the assessee is therefore, dismissed as withdrawn. 4. The ld. counsel for the assessee, at the outset submitted that the issue in the departmental appeal is covered in favour of....

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....d with Rule 8D for computing income under normal provisions at Rs. 1,93,20,946/-. As the assessee had himself disallowed an amount of Rs. 1,15,24,217/- in the return of income, Assessing Officer disallowed the remaining amount of Rs. 77,96,729/- for computing the income under normal provisions. Similarly, for computing the book profit under section 115JB, the Assessing Officer computed the disallo....