2022 (11) TMI 913

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....hi, Advocate Respondents Through: Mr. Ajit Sharma, Senior Standing Counsel for Revenue with Mr. A. Renganath, Advocate. J U D G M E N T MANMOHAN, J (Oral): CM APPL. 5201/2019 (for delay) Keeping in view the averments in the application, the delay of 13 days in filing the present appeal is condoned. Accordingly, the present application stands disposed of. ITA 114/2019 1. The....

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....ther on the facts and circumstances of the case and in law, ITAT was right in law in setting aside deduction of loss on exchange rate fluctuations allowed by the CIT(A) after due verification in exercise of powers under section 250(4) of Act? 2. Admittedly, the issue of grant of deduction under Section 80JJAA of the Income Tax Act, 1961 (the 'Act') has been decided in assessee's favour in the p....

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....d of examining this aspect of the matter, observed, and in our view, incorrectly, that because an opportunity was not given to the Assessing Officer to examine the material, therefore, the matter needed to be remanded to the Assessing Officer for a fresh verification. 15. In our view, unless the Tribunal would have reached to a conclusion and expressed its clear view, in that respect, as ....

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....e Court rendered in Goetze (India)Ltd. (supra). The Commissioner of Income-tax (Appeals), squarely, dealt with this and concluded, that a fresh claim could be entertained. Therefore, the Tribunal, as noticed above, has accepted this view of the Commissioner of Income-tax (Appeals) and the revenue has not come up in appeal before us assailing this conclusion of the Tribunal. xxx xxx xxx ....