9911796707
TMI Blog2013 (5) TMI 530X X X X Extracts X X X X X X X X Extracts X X X X ..... raised in Asstt. Year 2006-07 and additional grounds raised read as under:- "1. That on the facts and in the circumstances of the appellant company's case the Ld. Commissioner of Income Tax (A) erred in law in upholding the order of DCIT, Circle 1(1), New Delhi in treating a sum of Rs. 36,00,000/- representing income from joint venture with M/s Auto Link (I) Pvt. Ltd., as "income from other sources" as against "Business income" declared by the appellant. 2. That on the facts and in the circumstances of the appellant company's case the Ld. Commissioner of Income Tax (A) erred in allowing relief of expenses amounting to Rs. 16,20,000/- only out of a sum of Rs. 92,09,548/- disallowed by the DCIT, Cir 1(1), New Delhi, thereby upholding disall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Ld. Commissioner of Income Tax (A) erred in law in upholding the order of Assessing Officer, Ward 1(3), New Delhi in treating a sum of Rs. 33,04,594/- representing 'Balances Written Off' in the books of account, as "income from other sources" as against "Business Income" declared by the appellant. 3.1 That on the facts and in the circumstances of the appellant company's case the Ld. Commissioner of Income Tax (A) erred in allowing relief of expenses attributable to Najafgarh Workshop at Rs. 34,85,215/- only out of Rs. 44,45,661/- claimed by the Appellant, New Delhi, detailed as under:- S.No. Particulars of expenses Amount Claimed Rs. Amount allowed by Ld. C.I.T.(A) Rs. Remarks 1 Rend paid 17,00,000/- 15,00,000/- Nil allowed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the amount of business losses to be carried forward to subsequent years available for adjustment in future as per provisions of law." 5. In these appeals the main ground of appeal raised is that Ld. Commissioner of Income Tax (A) erred in treating the income of Rs. 36 lacs which represented the income from joint venture with Auto Link Enterprises (I) Pvt. Ltd. as income from other sources, as against the business income declared by the assessee. Furthermore, it has been assailed that the Ld. Commissioner of Income Tax (A) erred in upholding the order of the Assessing Officer regarding the disallowance of business expenses on the ground that the business of the assessee has closed down. 6. In this cases the Assessing Officer has observ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer, but he allowed some of the expenditure in this regard. 8. Now the assessee is in appeal before us and it has been submitted by the assessee that assessee was conducting business of (i) purchase / sale of cars as dealers of Hindustan Motors and thereafter as dealers of MUL which was terminated by letter dated 04.9.2002 w.e.f. 03.3.2003 (A.Y. 2003-04); (ii) Petrol Pump business as Preet Vihar, Vikas Marg, Delhi was terminated by BPCL on 16.5.2000. The assessee disputed the termination and eventually Hon'ble Supreme Court of India held that termination to be illegal and restored the license. The said business was recommenced in assessment year 2003-04. In this regard, assessee submitted letter dated 20.11.2012 of BPCL and order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner of Income Tax (A). 11. In these circumstances, we note that assessee has submitted certain additional documents which were not before the authorities below as well as raised certain grounds which were also not before the authorities below. Under the circumstances, in our considered opinion, interest of justice will be served if the matter is remitted to the file of the Assessing Officer to consider the issues afresh. The Assessing Officer shall consider all the documents and submissions of the assessee as well as the additional grounds raised by the assessee. Needless to add that the assessee should be given adequate opportunity of being heard. 12. In the result, both the appeals filed by the Assessee stand allowed for statistical p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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