ITO, WARD-35(2), NEW DELHI vs. VIJAY GUPTA, DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

disallowed the remaining 75%, amounting to Rs.69,93,427/-. 3. The assessee filed appeal before the CIT(A), who vide order dated 19.02.2018 deleted the addition and allowed the assessee’s appeal holding as under:- 7. Decision 7.1 “The undisputed facts are that Assessee is deriving income from manufacturing of LPG Gas Stove under the name & style M/s Supershine Domestic

RRB ENERGY LTD.,NEW DELHI vs. ITO, NEW DELHI

Bench: Shri G. D. Agrawal, Hon’Ble & Shri Kuldip Singh

disallowed. Section 37 of Income Tax Act, 1961, provides that any expenditure not being expenditure of capital nature laid out wholly 8 I.T.A.No.1874./Del/2013 or exclusively for the purpose of business is allowable as deduction in computation of the income chargeable under the head 'Profit and gains of business or profession'. 3. Thus the assessee has failed to disclose