DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD., BIDAR

ITA 951/BANG/2009Status: DisposedITAT Bangalore05 January 2022AY 2006-0762 pages
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What did the Tribunal hold?

The Tribunal held that the cross objections filed by the assessee were not maintainable and dismissed them. For the quantum appeal, the Tribunal allowed the Revenue's appeal to the extent remanded by the High Court. For the penalty appeal, the Tribunal restored the penalty order for two specific additions that survived the quantum proceedings.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of additions made by the AO concerning disallowance of capital expenditure and depreciation. The High Court had previously remanded the issue for fresh consideration. The assessee company went into liquidation and was represented by the Official Liquidator.

What were the issues?

Whether the CIT(A) was justified in deleting the disallowance of capital expenditure and depreciation, and whether penalty under Section 271(1)(c) was leviable.

Which sections of the Income-tax Act were involved?

Section 35(1)(iv),Section 35(2),Section 271(1)(c),Section 249(4)

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Cases cited in this judgment(2)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENTAND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER ITA Nos. and Appellant Respondent Assessment Year 1232/Bang/2005 DCIT, The Official Liquidator, High Court of 2002-03 Circle - 1, Karnataka, Corporate Bhavan, No.26- 12th Gulbarga. 27, Floor Raheja Towers, M.G.Road, Bangalore-560001. (in the case of M/s. Jupiter Bioscience Limited,Plot No.24, Kolhar Indl. Area, Bidar, Karnataka. PAN : AAACJ 5643 H DCIT, 627/Bang/2009 Circle - 1, -do- 628/Bang/2009 Gulbarga. 2003-04 & 2004-05 950/Bang/2009 2005-06 951/Bang/2009 -do- -do- 2006-07 990/Bang/2008 -do- -do- 2002-03 C.O. Nos. and Appellant Respondent Assessment Year 06/Bang/2021 The Official Liquidator, High Court ACIT, (in ITA of Karnataka, Corporate Bhavan, Circle - 1, No.1232/Bang/2005) No.26-27, 12th Floor Raheja Towers, Gulbarga. 2002-03 M.G.Road, Bangalore-560001. (in the case of M/s. Jupiter Bioscience Limited,Plot No.24, Kolhar Indl. Area, Bidar, Karnataka. PAN : AAACJ 5643 H 07/Bang/2021 -do- ACIT, (in ITA Circle - 1, No.627/Bang/2009) -do- Gulbarga. 2003-04

ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6

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