KETAN CERAMICS PVT. LTD.,,NAGPUR vs. THE ACIT, CENTRAL-CIRCLE-2(3),, NAGPUR

In the result, the appeal of the assessee is partly allowed for statistical purposes

disallowing Rs.79,64,700/- from out of financial expenses and the learned CIT(A) was unjustified in only partly allowing the expenditure. On the facts and circumstances of the case, the expenditure is incurred for the purpose of business and therefore allowable. (3) That the learned CIT(A) erred in law and on facts in holding that the trading transaction

M/S. KABRA ENGINEERING,CHANDRAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC, BANGLORE

In the result, the aforesaid appeals of the assessee are allowed