DCIT, BANGALORE vs. M/S GENEVA FINE PUNCH ENCLOSURES LTD.,, BANGALORE
In the result, the appeal filed by the revenue is allowed
ITA 1560/BANG/2013[2009-10]Status: DisposedITAT Bangalore19 Jan 2018AY 2009-10
Bench: Shri Inturi Rama Rao & Shri Lalit Kumardeputy Commissioner Of Income-Tax, Circle 11(3), Bengaluru. … Appellant Vs. M/S.Geneva Industries Ltd., (Formerly Geneva Fine Punch Enclosures Ltd.),No.140/1, Pattandur Agrahara Village, Whitefield Road, Bengaluru-560 066. … Respondent Pan: Aaacg7208F & (By The Assessee) Assessee By : Shri B.Balachandran, Advocate. Revenue By : Shri Pradeep Kumar, Cit(Dr) Date Of Hearing : 02/11/2017 Date Of Pronouncement : 19/01/2018 O R D E R Per Inturi Rama Rao, Am : These Cross Appeals Filed By The Assessee-Company As Well As Revenue Directed Against The Order Of The Ld. Commissioner Of Income- Tax(Appeals)-I, Bengaluru, Dated 30/08/2013 For The Assessment Year 2009-10. 2. Briefly, Facts Of The Case Are As Under: The Assessee Is A Company Duly Incorporated Under The Provisions Of The Companies Act 1956. It Is Engaged In The Business Of Making Of Sheet Metal, Medical Equipments & Accessories. The Return Of Income For The Assessment Year 2009-
For Appellant: Shri B.Balachandran, AdvocateFor Respondent: Shri Pradeep Kumar, CIT(DR)
Section 143Section 54GSection 69
section 143 (3) of the Income- tax Act, 1961 [hereinafter referred to as 'the Act' for short] at total income of Rs.42,97,10,412/-. While doing so, the Assessing Officer made several disallowances. One of the disallowances relates to the sale of the building, plant and machinery, factory situated at Whitefield,
Bangalore. The factory building was sold on 10/09/2008
