TRANSWEEIGH INDIA LTD Vs. ITO
INCOME TAX APPELLATE TRIBUNAL
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V.K. Gupta, A.M. -
(1.) THIS appeal is filed by the assessee and directed against the order of Commissioner (Appeals)- IX, Mumbai dated 31-8-2004.
(2.) We have heard both the sides and have also perused the materials placed on record and applicable legal position.
In ground No. 1, the assessee is aggrieved by the decision of learned Commissioner (Appeals) in up-holding the action of assessing officer in disallowing the research and development expenses of Rs. 25,42,620. The assessee has also raised an additional ground claiming allowability of the same under Section 37 of the Act if it was not allowable under Section 35(1) of the Income Tax Act. The learned Counsel for the assessee requested for admission of additional ground as it was purely on legal issue.
(3.) THE learned Departmental Representative, objected the same. On due consideration of facts and circumstances and applicable legal position, we admit the additional ground of the assessee and the decision on both ground No. 1 and this additional ground would be given together.;
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