BPS MINERAL EXPORTS PRIVATE LIMITED,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(2), AHMEDABAD
In the result, the appeal of the assessee is allowed
ITA 282/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad01 Jan 2025AY 2016-17
Bench: Ms. Suchitra Kamble
For Appellant: Shri Tushar Hemani, Sr. Adv. &For Respondent: Shri C Dharani Nath, Sr. D.R
Section 250Section 26(1)(iii)Section 36(1)(iii)
discounting charges”
debited under the head Finance cost in the profit and loss account of the appellant thereby invoking the provisions of section 26(1)(iii) which is not justified because
Hon’ble CIT(A) has not considered the facts of the case and also not going into ... dismissed the appeal of the assessee.
5. The Ld. A.R. submitted that the Assessing Officer made disallowance of Rs. 16,83,705/- under Section 26(1)(iii) of the Income Tax
Act in respect of “LC discounting charges”. The interest free funds /
BPS Mineral Exports Pvt. Ltd. vs. ITO
Asst.Year
