MALBROS INVESTMENTS LTD Vs. DY CIT
LAWS(IT)-2008-5-9
INCOME TAX APPELLATE TRIBUNAL
Decided on May 30,2008

Appellant
VERSUS
Respondents

JUDGEMENT

C.L. Sethi, J.M. - (1.) THE assessee and the revenue both are in appeal against the order dated 21-4-2004 passed by the Commissioner (Appeals) in the matter of an assessment made under Section 143(3) of the Income Tax Act, 1961 for the assessment year 2001-02.
(2.) The assessee has also filed appeals against the separate orders dated 12-1-2006 and 11-7-2006 passed by the Commissioner (Appeals) in the matter of an assessment made under Section 143(3) of the Act, for the assessment years 2002-03 and 2003-04. We shall first take up the appeal filed by the assessee for the assessment years 2001-02, 2002-03 and 2003-04. Ground No. 1 raised by the assessee in these three assessment years is common and identical, and as such ground No. 1 in all these three assessment years is taken up together for our consideration.
(3.) GROUND No. 1 in assessment year 2001-02 raised by the assessee are directed against Commissioner (Appeals)'s order in confirming the addition of Rs. 68,25,000 being the interest allegedly accrued on inter-corporate deposit of Rs. 350 lacs given to M/s Lottee Holdings (P) Ltd.;


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