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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Sections 32, 40(a) (ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related to the business activities against which the Chapter VI-A deduction has been claimed, result in enhancement of the profit of the eligible business, and that deduction under Chapter VI-A is admissible on the profit so enhanced by the disallowance. The said

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

5,I29/- in the return filed on 2.12.2003 for the assessment year 2003-04. The return was processed under Section 1a3(l)(a) of the Income Tax Act, 1961 and thereafter was selected for scrutiny. Apparently the Assessing Officer sent various notices to parties. During the course of proceedings the Assessing Officer noticed that the assessee ' had entered into transactions