Commissioner of Income Tax, vs. M/s Mohan Milk Line Private Limited,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

disallowances made under Sections 32, 40(a) (ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related

The Commissioner of Income Tax-I vs. M/s. Charminar Breweries Ltd.,

disallowing the claim of loss declared in the retum of income furnished by the assessee. Thus for all these reasons and as the assessee has produced suffrcient material justifying its claim it is held that the entire exercise done by the AO is based on surmises and conjectures and without any evidence. The claim of loss as per the return