M/S Hothur Traders, Bellary vs. The Assistant Commissioner of Income Tax Circle-1, Bellary
In the result, the appeal by the assessee is dismissed
ITA 541/BANG/2019[2011-12]Status: DisposedITAT Bangalore25 Mar 2021AY 2011-12
Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2011-12 M/S. Hothur Traders, Vs. The Assistant Commissioner Plot Nos. 5, 6, 7 & 8, Of Income Tax, “Hothur House”, Infantry Road, Circle 1, Cantonment, Fort Road, Bellary – 583 104. Bellary – 583 102. Pan: Aaefh 7705H Appellant Respondent
For Appellant: Shri Shiva Prasad Reddy, IRSFor Respondent: Shri Kannan Narayanan, Jt.CIT(DR)(ITAT), Bengaluru
Section 10BSection 143(1)Section 143(3)Section 147Section 148Section 41(1)
…ained in the business and as such, the amount that initially did not have the character of income becomes income liable to tax. (e) Decisions rendered in CIT v. P. Ganesh Chettiar [1982] 133 ITR 103 (Mad.) and CIT v. Phool Chand Jiwan Ram [1981] Page 8 of 14 131 ITR 37 (Del.) were of no assistance to the appellant because the same were rendered prior to judgment of the Supreme Court in T.V. Sundaram Iyengar and Sons Ltd. (supra)." Against the orders of the Tribunal, appeal was preferred by the said assessee and the Hon’ble Delhi High Court vide orders dated 18th February, 2011 affirmed the order of the Tribunal.…
