Gujarat Insecticides Limited, Ankleshwar vs. The Addl.CIT., Bharuch Range, Bharuch
In the result the appeal of the assessee is dismissed
ITA 2234/AHD/2014[2007-08]Status: DisposedITAT Surat22 Mar 2021AY 2007-08
Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Court Hearing) Gujarat Insecticides Ltd, Additional Commissioner Of Plot No. 805/806, Income Tax, Bharuch Range, Vs Gidc Industrial Estate, Bharuch. Ankleshwar-393002 (Gujarat). Pan : Aaacg 8436 D Appellant Respondent
Section 115Section 254(1)Section 28Section 36(1)(vii)
…the year under consideration, only principal amount could be recovered. In support of his submission the learned AR of the assessee relied upon the following decisions: Deoniti Prasad Singh Versus CIT -15 ITR 165 (Patna), CT Naraiyan Chettiar Versus CIT -60 ITR 690(Madras), Dinesh Mills Ltd Versus CIT (122 Taxman 384 (Gujarat), Shiv Narayan Karmendra Narayan cs Versus CIT 277 ITR 27(Allahabad). 6. On the other hand the learned DR for the revenue supported the order of lower authorities. The learned AR further submits that the assessee has not shown and income from the intercorporate deposit. The assessee…
