The Commissioner of Income-tax-I, Nagpur v. Infospectrum India Private Limited
[Citation -2017-LL-0711-2]
Citation | 2017-LL-0711-2 |
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Appellant Name | The Commissioner of Income-tax-I, Nagpur |
Respondent Name | Infospectrum India Private Limited |
Court | HIGH COURT OF BOMBAY AT NAGPUR |
Relevant Act | Income-tax |
Date of Order | 11/07/2017 |
Assessment Year | 2008-09 |
Judgment | View Judgment |
Keyword Tags | newly established industrial undertaking • admissibility of deduction • returned income • form no. 56f |
Bot Summary: | This appeal under Section 260-A of the Income Tax Act, 1961 challenges orders dated 30.01.2013 passed by the Income Tax Appellate Tribunal relating to Assessment Year 2008- 2009. Regarding question no.1, it is an agreed position between the parties that the issue raised herein stands concluded in favour of respondent/assessee and against appellant/Revenue in view of the decision of Supreme Court in CIT vs. G.M. Knitting Industries Ltd. 2015 376 ITR 456. Question no.1 is answered in affirmative i.e. in favour of the respondent/assessee and against the Revenue. Regarding question No.2, it is an agreed position between the parties that the issue raised herein stands concluded against the Revenue and in favour of the respondent/assessee by the decision of this Court in CIT vs. Pruthvi Brokers Shareholders Ltd., 349 ITR 0336. In the above view, question No.2 is answered in favour of respondent/assessee and against the appellant/Revenue. |