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TMI Blog2010 (4) TMI 821X X X X Extracts X X X X X X X X Extracts X X X X ..... I - 5203 - SUPREME Court) the assessee-company was neither dissolved nor its business was closed and was holding regular meeting of its directors and also filing the return, the expenses claimed by the assessee are allowable as rightly held by the learned first appellate authority. - ITA 4/Delhi/2010 - - - Dated:- 23-4-2010 - Shri G.E. Veerabhadrappa, and H.S. Sidhu, JJ. Represented By: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d representative appeared to prosecute the matter in dispute nor any application requesting for adjournment of the case was received. In this view of the matter, we are of the considered opinion that no useful purpose would be served to issue hearing notice again to the assessee. We, therefore, proceed to dispose of the appeal ex parte qua the assessee after hearing the learned Departmental repres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned Departmental representative and perused the impugned order passed by the learned first appellate authority. We are of the considered opinion that the learned first appellate authority has deleted the addition in dispute by following the decision of the hon'ble Supreme Court in the case of Sassoon J. David Co. (P.) Ltd. v. CIT [1979] 118 ITR 261 and the decision of the hon'ble Rajasthan High ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent year, it had suffered recession and the company could not procure export orders in the year under consideration. But the company claimed only those expenses which were necessary to maintain the business and assets of the company which were allowable under the Income-tax Act. 6. Keeping in view the aforesaid discussion and the decision of the hon'ble Supreme Court in the case of (supra), we a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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