JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms Astha Chandra

20 the Ld. CIT(A) has only allowed the capital expenditure as an application of income which is duly allowable while computing the income u/s 11 of the Act. He accordingly submitted that the ground raised by the Revenue is infructuous and deserves to be dismissed. 64. We have heard the rival arguments made by both the sides, perused