The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA
Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.
reassessment proceedings. 2(a) That on the facts and circumstances of the case, tire learned CIT (Appeals) erred in confirming 50% of the expenditure disallowed by tire Assessing Officer amounting to Rs.51,08,050/- incurred on assets not belonging to the company. 2(b) That on the facts and circumstances of the case, the action of the learned CIT / (Appeals