ASST CIT LTU, MUMBAI vs. ASIAN PAINTS LTD, MUMBAI
ITA 2364/MUM/2013[2004-05]Status: DisposedITAT Mumbai23 Sept 2016AY 2004-05
Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm
For Appellant: Shri K. ShivramFor Respondent: Shri Ganesh Bare
Section 142(1)Section 143(1)Section 143(2)
…d of that the assessee had no business. In support of these contentions the learned representative of the assessee has placed reliance on the law settled in CIT Vs. Ralliwolf Ltd. (1980) 121 ITR 262 (Bom.) and Sardar Sarovar Narmada Nigam Ltd. Vs. ACIT (2012) 138 ITD 203 (Ahd.) (SB) and Western India Vegetable Products Ltd. Vs. CIT (1954) 26 ITR 151 (Bom.) and CIT Vs. Saurashtra Cement and Chemical Industries Ltd. (1973) 91 ITR 170 (Guj.) 16. On the other hand learned representative of the department has strongly relied upon the finding of the CIT(A) in question. It is not in dispute that the assessee company wa…