COMMR.OF INCOME TAX,RAJKOT vs. M/S GUJARAT SIDDHI CEMENT LTD

The appeal is disposed of accordingly

Bench: The Commissioner Of Income Tax (Appeals) (In Short ‘Cit(A)’). The Disallowance Made By The Assessing Officer Was Upheld By The Cit(A) On The Ground That No Arguments Were Advanced & No Factual Details Were Furnished Regarding The Alleged Fluctuation On Account Of Foreign Exchange Rate. The Matter Was Carried In Further Appeal By The Assessee Before The Income Tax Appellate Tribunal, Rajkot (In Short ‘Tribunal’) Which Allowed The Claim Placing Reliance On A 2

190). 5. Learned counsel for the assessee-respondent on the other hand submitted that Lucas TVS’s case (supra) related to an entirely different question and, therefore, the view expressed by the High Court does not suffer from any infirmity. 6. The assessment year in the present case is 1993-94 relating to the previous year 1992-93. In terms

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

Section 12AA(1) of the IT Act, on 18.05.1979 and is engaged in the activity of promotion of the export of all kind of ready-made garments, knitwear, and garments made of leather, jute and hemp. It does not per se engage in any activity for profit, and its mandate is to ensure that Indian apparel manufacturers, are given forums