2009 (4) TMI 40

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Subbaraya Aiyar for the appellant. JUDGMENT The Judgment of the Court was delivered by K. RAVIRAJA PANDIAN, J. - The assessee on appeal against the order of the Income Tax Appellate Tribunal Madras "A" Bench passed in ITA Nos.2445/2446/(Mds)/06 dated 22.09.2008 by formulating the following questions of law:- "1.Whether the Appellate Tribunal is right in law in holding that the appella....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... For the assessment year 1998-99, the assessee filed return of income on 17.11.1999 admitting loss of Rs.3,29,99,169/-. The return was processed u/s 143(1) on 02.11.1999. Subsequently, the Assessing Officer reopened the assessment by issuance of notice under Section 148 on 24.12.2004. Notice u/s 143(2) was issued. The Assessing Officer has completed the assessment under Section 143(3) read with S....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....08, rejected the contention of the assessee and confirmed the disallowance of provision for bad debts and non performing assets by relying the judgment of the jurisdictional High Court in the case of T.N.Power Finance reported in 280 ITR 491. As regards to amortisation of preliminary expenses, the Tribunal by following the decision of the assessee's own case for the assessment years 1995-96 upheld....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Case Appeal Nos.107 to 110 of 2002 decided against the assessee. 4. For the assessment year 2000-01, in addition to the above two questions of law, one more question of law to the following effect has also been formulated:- "Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the appellant is not entitled to amortisation of preliminary expenses ....