ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(1), RAIPUR vs. M/S SUPER IRON AND STEEL PVT LTD.,, RAIPUR
In the result, appeal of the revenue is partly allowed and Cross objection of the assessee is dismissed
ITA 261/RPR/2017[2010-11]Status: DisposedITAT Raipur31 Oct 2022AY 2010-11
Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.261/Rpr/2017 ("नधा"रण वष" / Assessment Year :2010-2011) Acit-4(1), Raipur Vs M/S Super Iron & Steel Pvt. Ltd., Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & Cross Objection No.13/Rpr/2017 (Arising Out Of Ita No.261/Rpr/2017) ("नधा"रण वष" / Assessment Year :2010-2011) M/S Super Iron & Steel Pvt. Ltd., Vs Acit-4(1), Raipur Pritpal Farm House, Vip Road, Raipur(C.G.) Pan No. : Aaics 2579 R (अपीलाथ" /Appellant) (""यथ" / Respondent) ..
For Appellant: Shri Nikhilesh Begani, CAFor Respondent: Shri G.N.Singh, Sr. DR
Section 144Section 40Section 40A(2)(b)Section 68
disallowance is therefore deleted and assessee's ground is allowed.
7. With regard to evasion of tax by excessive or unreasonable payments the Ld AR has relied on following judgments:- i)
CIT Vs. Indo Saudi Services (Travel) (P.) Ltd., [2018] 219
CTR 562 (Bombay), wherein it is held as under :-
Section 40A