2006 (7) TMI 199

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....ENT 1. The following questions are proposed for admission of this appeal: "(i) Whether, on the facts and circumstances of the case, the Appellate Tribunal was right in holding that the amount given to the Gujarat Maritime Board for construction of jetty and platform being written off as bad debts was allowable expenditure being a trading loss? (ii) Whether, on the facts and circumstances ....

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....ills Ltd. [1999] 236 ITR 921 (Guj) and CIT v. Shri Digvijay Cement Co. Ltd. [1986] 159 ITR 253 (Guj) the facts were related to feasibility report for a new project and not for the existing business. In the case under consideration, the assessee advanced Rs. 35 lakhs to the Gujarat Maritime Board for development of Koteswar port for transport of lignite by sea route in place of road transportation.....