2010 (8) TMI 22

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..... dance with law – decided in favor of assessee - 904/2010 - - - Dated:- 2-8-2010 - Represented:- Through: Mr. N.P. Sahni, Advocate Through: Mr. Ajay Vohra, Advocate CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN J U D G M E N T MANMOHAN, J 1. The present appeal has been filed under Section 260A of Income Tax Act, 1961 (for brevity "Act, 1961") .....

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..... s were corporate entities whose balance sheet, PAN and registration details with ROC had been filed. Even one of the Directors of share applicant had appeared before the Assessing Officer. 5. On a scrutiny of the order passed by the ITAT, it is clear that the ITAT has based its conclusion on the decision rendered in Commissioner of Income Tax v. Lovely Exports (P) Ltd. (2008) 216 CTR 195 wh .....

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..... such creditors in accordance with law. We may mention that during the course of arguments, learned counsel for appellant had relied upon various judgments passed by different High Courts. We have dealt with same in the judgment of even date passed in ITA No. 91/2010 (Commissioner of Income Tax-IV Vs. M/s. Dwarkadhish Investment (P) Ltd.). To avoid prolixity, discussion in the said judgment is not .....

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