M/S. KING ENTERTAINMENT PRIVATE LIMITED,NAWANSHAHR vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - II, JALANDHAR
In the result, the appeal of the assessee is partly allowed
ITA 523/ASR/2017[2005-06]Status: DisposedITAT Amritsar19 Dec 2019AY 2005-06
Bench: Sh. N. K. Choudhry & Sh. O. P. Meenai.T.A. No. 523/Asr/2017 Assessment Year: 2005-06
For Appellant: Written SubmissionsFor Respondent: Sh. Alok Kumar CIT-DR
Section 2Section 2(24)Section 271(1)(c)Section 35DSection 56Section 68
disallowance of expenses like preliminary expenses w/off which are allowable u/s 35D. The other expenses Rent, Bank Charges are self-explanatory. Hence no penalty can be imposed. It is prayed penalty may please deleted.
3. The appellant craves leave to add or amend ground of appeal.”
3. Briefly stated the facts of the case are that the AO made addition
