Shreno Limited, Baroda vs. The ACIT, Circle-4, Now Circle-2(1)(1), Baroda
In the result, appeal of the assessee is allowed
ITA 251/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad25 May 2018AY 2011-12
Bench: Tribunal Against The Order Of Learned Cit(A)-2, Vadodara, Dated 19.11.2015 Passed For A.Y. 2011-12. 2. The Grounds Of Appeal Taken By The Assessee Are Not In Consonance With Rule 8 Of Itat Rules, They Are Descriptive & Argumentative In Nature. In Brief, In The First Fold Of Grievance, Assessee Pleaded That The Learned Cit(A) Has Erred In Confirming The Disallowance Required To Be Made U/S. 14A Of The Income Tax Act, 1962 Read With Rule 8D Of The Income Tax Rules. Learned Counsel For The
Section 10(34)Section 143(2)Section 14A
…e jurisdictional High Court in the case of CIT Vs Shahibag Entrepreneurs [(1995) 215 ITR 810 (Guj)], a visit which is wholly personal and gratuitous can be disallowed. Based on the decision of this Tribunal in the case of Parkar Securities Ltd VS DCIT [(2006) 8 SOT 257 (Ahd)], which was on its own facts, disallowed 75% of the expenses and allowed the deduction for 25% of the expenses. The assessee is aggrieved and is in appeal before us. 18. We have heard the rival contentions, perused the material on record and duly considered facts of the case in the light of the applicable legal position. 19. We have noted t…
