Commission of Income-tax, (Central ) v. M/s Jay Pee Cement Ltd
[Citation -2017-LL-0330-12]
| Citation | 2017-LL-0330-12 |
|---|---|
| Appellant Name | Commission of Income-tax, (Central ) |
| Respondent Name | M/s Jay Pee Cement Ltd. |
| Court | HIGH COURT OF ALLAHABAD AT LUCKNOW |
| Relevant Act | Income-tax |
| Date of Order | 30/03/2017 |
| Assessment Year | 2002-03 |
| Judgment | View Judgment |
| Bot Summary: | Heard Sri Alok Mathur, Advocate assisted by Sri Manish Misra, learned counsel for appellant and and perused the record. Following two substantial questions of law are formulated in this appeal: I. That on the facts as mentioned in the statement of facts, whether the Income Tax Appellate Tribunal was justified in law in deleting the addition made by the A.O. and confirmed by the Commissioner of Income Tax in respect of disallowance of Rs. 25,27,000. 00 on account of share issue expenses debited in PL account, contrary to the decision of Hon'ble Supreme Court in the case of PIDC Ltd. Vs. CIT reported in 225 ITR 972. II. That on the facts as mentioned in the statement of facts, whether the Income Tax Appellate Tribunal was justified in law in deleting the addition made by the A.O. and confirmed by the Commissioner of Income Tax in respect of disallowance of Rs. 10,36,839. 00 on account of miscellaneous expenses debited in Profit Loss account being unverfiable in nature. We find that both these questions are in fact involve factual aspect and Tribunal on the basis of material available on record and looking to other aspects have recorded finding in favour of Assessee. In our view, no substantial question of law involves in this appeal. |