2009 (1) TMI 140

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....udgment of the court was delivered by K. RAVIRAJA PANDIAN J. - The Revenue is on appeal under section 260A of the Income-tax Act, 1961, against the order passed by the Income-tax Appellate Tribunal "B" Bench, Chennai, dated July 10, 2003, in I. T. A. No. 415/Mds/1996 by formulating the following question of law: "Whether, on the facts and in the circumstances of the case, the Appellate Tribu....

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....per cent. of the same as estimated profit on contract receipt on the allowable expenditure. Against that order, the assessee preferred an appeal before the Commissioner of Income-tax (Appeals), who deleted the disallowance of Rs. 17,31,851 made out of head office expenses and with regard to the addition made of 10 per cent. towards estimated profit on contract receipts, the Commissioner (Appeals) ....

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....entry and the net effect would be that at only one place the expenditure can be claimed." The Tribunal concluded that the addition was uncalled for. Thus, dismissed the appeal filed by the Revenue, by observing that no interference is called for with the conclusion reached by the Commissioner of Income-tax (Appeals). The correctness of the same is now canvassed before us. 3. We have heard the a....