Navubha J. Chavda,, Jamnagar vs Income Tax Officer, Ward-2(2),, ... on 20 February, 2017
9(b). Respectfully following the above decision of ITAT, Rajkot
Bench in the case of Shri Navubha J. Chavda (supra), the
same being squarely applicable to the facts of the instant
case and since Revenue could not controvert the
contention of ld. Counsel for the assessee that the alleged
sum has been offered to tax as part of its revenue by the
11
ITA No. 612/KOL/2024
Assessment Year: 2013-2014
Raghvendra Pratap Singh
recipient company M/s. Tata Capital Limited, finding of
the ld. CIT(Appeals) is set aside and impugned
disallowance of Rs.33,83,885/- made u/s. 40(a)(ia) of the
Act is deleted. Grounds no. 5(a) & 5(b)are allowed.