2013 (2) TMI 897 - HC - Income Tax

Summary

Issues involved: Challenge to the order of the Income Tax Appellate Tribunal regarding disallowance of expenses u/s 35D of the Act and public issue expenses.

Regarding disallowance u/s 35D of the Act: The High Court had previously decided a similar question in favor of the revenue in a previous case involving the same assessee. The Tribunal was directed to reexamine the issue on merit and provide a decision accordingly.

Regarding public issue expenses: The Tribunal had directed the Assessing Officer to follow its order from a previous assessment year, which was challenged in the Court and not entertained. Since no new grounds were presented, the Court did not find it necessary to further consider the matter. The Tax appeal was disposed of, remanding the first question back to the Tribunal for a decision after proper consideration and hearing both sides.