2002 (9) TMI 290 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Panaji ruled in favor of the assessee for asst. yr. 1991-92. The dispute was regarding the disallowance of Rs. 4,12,720 as capital expenditure by the AO and CIT(A). The Tribunal found the issue debatable and not prima facie disallowable under s. 143(1)(a) of the IT Act, thus accepting the appeal of the assessee.