9911796707
TMI Blog2015 (1) TMI 252X X X X Extracts X X X X X X X X Extracts X X X X ..... ni ORDER P.C. The Appeal of the Revenue challenges the order passed on 16th May, 2012 by the Income Tax Appellate Tribunal, Mumbai Bench in Income Tax Appeal No. 4962/Mum/2005. The assessment year is 200102. 2) On the attention of Mr. Suresh Kumar, appearing for the Revenue in support of the Appeal, being invited to page 4 of the Appeal paper book, wherein the substantial questions are set out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer should be deleted. That was because the Assessing Officer made his own calculations for dis-allowance of interest not charged on advances to M/s. Hy Grade Pellets Ltd.(HGPL). The Assessee pointed out that M/s. HGPL is a company. The Assessee is in the business of manufacturing and sale of Hot Rolled Coils, Sheets, Plates, Hot Briquetted Iron etc. A return of income declaring total loss of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 6) The Assessee, being aggrieved by this dis-allowance, carried the matter in Appeal before the first Appellate Authority. The first Appellate Authority allowed the Appeal partially and instead of the entire dis-allowance of Rs. 27,54,66,028/ - being deleted, upheld disallowance to the extent of Rs. 9,01,98,977/- . In other words, from the sum of Rs. 27,54,66,018/-, the dis-allowance to this ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view taken by the Tribunal is in the facts and circumstances peculiar to the Assessee's case. The view taken cannot be termed as perverse as it is in consonance with the documents and materials produced. Thus, if the findings of facts are not perverse or vitiated by any error of law apparent on the face of the record, then, the Appeal does not raise any substantial question of law. We do not ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
