DCIT, Chennai vs. Hyundai Motors India Ltd., Kancheepuram
In the result, while CO of the assessee is dismissed, all the three appeals filed by the assessee are partly allowed in the terms indicated above, all the three appeals filed by the revenue are dis...
ITA 761/CHNY/2016[2011-2012]Status: DisposedITAT Chennai27 Apr 2017AY 2011-2012
Section 143(3)Section 253(4)
…red facts of the case in the light of the applicable legal position. 138. We find that this issue is covered against the assessee by direct decision, on this point, by Hon’ble Uttarakhand High Court, in the case of CIT Vs Kisan Sahkari Chini Mills Ltd [(2009) 318 ITR 218 (Uttarakhand)]. No direct decisions, in favour of the assessee and on this point, have been brought to our notice. In this view of the matter, we uphold the stand of the Assessing Officer and decline to interfere in the matter. 139. Ground nos. 32 to 34 are thus dismissed. 140. The assessee has raised an additional ground of appeal that “subsidy…