S. GOPALAKRISHNAN Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This appeal is filed by the assessee impugning the order passed by the Income Tax Appellate Tribunal, Cochin Bench, in I.T.A.No.624/2007 pertaining to the assessment year 2004-2005.

(2.) On facts, it is relevant to state that for the assessment year 2004-2005, the assessee had returned loss of Rs. 10,12,980.00. The Assessing Officer, after making additions and disallowances, determined the total income at Rs. 50,49,560.00. The appeal filed by the assessee was allowed by the Commissioner of Income Tax (Appeals). The Revenue challenged the order of the 1st Appellate Authority before the Tribunal. The Tribunal passed the impugned order partly allowing the appeal of the Revenue. It is in these circumstances, the assessee has filed this appeal, framing the following questions of law for the consideration of this court:

(3.) We heard the counsel for the appellant and the Senior Standing Counsel for the Revenue.