Networth Stock Broking Ltd, Mumbai vs. ACIT Cir 4(2), Mumbai
In the result, the appeal of assessee in ITA No
ITA 3332/MUM/2012[2007-08]Status: DisposedITAT Mumbai10 Mar 2017AY 2007-08
Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am
Section 143(3)Section 36(1)(ii)Section 43B
…e for the purpose of creating new asset. Strong reliance is placed on the following decisions to allow assessee's claim of repairs and maintenance of Rs. 1003119,938/-. 1) CIT Vs. Hi Line Pens Ltd [306 JTR 182(Del)] 2) CIT Vs Kishenchand Chella Ram (I) Ltd. 13 ITR 385 (Mad) 3) Instalment Supply Put. Ltd Vs. CIT [149 ITR 52 (Del)] Page 27 of 43 ITA No.3228,2268,3332&2288/Mum/2012 Networth Stock Broking Ltd.; 2007-08 & 2008-09 4) Allied Metal Products Vs. CIT 1137 ITR 689 P&HJ 5,) CIT Vs. Ooty Dasaprakash [237 ITR 902 (Mad)/ 6) Kotak Securities Vs Addl. CIT (supra) 7) CIT Vs Escorts Finance Limited (2006) (…