Gujarat High Court
Commissioner Of Income Tax-Ii vs M/S South Gujarat Share And Share ... on 17 January, 2011
Author: Harsha Devani
Bench: Harsha Devani
TAXAP/1600/2008 1/2 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 1600 of 2008
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COMMISSIONER OF INCOME TAX-II - Appellant(s)
Versus
M/S SOUTH GUJARAT SHARE AND SHARE BROKERS LIMITED -
Opponent(s)
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Appearance :
MRS MAUNA M BHATT for Appellant(s) : 1,
None for Opponent(s) : 1,
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CORAM : HONOURABLE MS.JUSTICE HARSHA DEVANI
and
HONOURABLE MR.JUSTICE H.B.ANTANI
Date : 17/01/2011
ORAL ORDER
(Per : HONOURABLE MS.JUSTICE HARSHA DEVANI)
1. Heard Mr. B.B. Naik, learned Senior Advocate appearing on behalf of the appellant. ADMIT. The following substantial questions of law arise for determination:
"[1] Whether on the facts and in the circumstances of case, the Income Tax Appellate Tribunal was right in law in deleting addition of Rs. 7,45,360/- made on account of brokerage income?
[2] Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in deleting disallowance of Rs. 13,03,244/- as brokerage incentives to the HC-NIC Page 1 of 2 Created On Sun Jan 17 01:30:13 IST 2016 TAXAP/1600/2008 2/2 ORDER sub-brokers?
[3] Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in deleting disallowance of Rs.23,47,287/- as bad debts or trading loss under section 28[1] of the Income Tax Act, 1961?"
In so far as the proposed question no.4 is concerned, the same is not pressed in the light of the fact that the Tribunal has restored the issue to the file of the Assessing Officer.
[HARSHA DEVANI, J.] [H.B. ANTANI, J.] pirzada/-
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