TERRA INFRA DEVELOPMENT LIMITED,NAGPUR vs. ACIT CIRCLE-3, NAGPUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

270A of the Act is initiated separately. 6. On appeal, the learned CIT(A) in its order vide Para–9, has noted that the amount of depreciation is liable for taxation since the use towards business could not be substantiated by the assessee. The interest on TDS paid by the assessee being penal in nature hence the Assessing Officer

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes