9911796707
TMI Blog2013 (1) TMI 859X X X X Extracts X X X X X X X X Extracts X X X X ..... gainst the order of the learned CIT(A)-XI, Ahmedabad dated 05-06-2012, for the assessment year 2009-2010. 2. The grounds raised by the revenue are as under: i) The Ld. CIT(A) has erred in law and on facts in directing the A. O. to treat the income from share transactions as LTCG instead of business income. ii) The Ld. CIT has erred in law and facts in deleting the addition of ₹ 7,2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. We have considered the rival submissions, perused the materials on record and gone through the orders of the authorities below and the Tribunal decision cited by the learned AR of the assessee (supra). We find that this issue has been decided by the learned CIT(A) by following the Tribunal order on the same issue in the case of the assessee in the assessment year 2005-06. The learned DR of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterest expenses, ₹ 5,694/- being other expenses and ₹ 9,196/- being depreciation. He drawn our attention to the order of the learned CIT(A) that the learned CIT(A) has already confirmed the disallowance of administrative expenses to the extent of ₹ 35,847/- which is debited to the profit loss account (Rs.30,153/- + ₹ 5,694/-) and this finding is also given by the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd ₹ 9,196/- on account of depreciation and admittedly, no disallowance can be made against these two expenses. Apart from this, whatever amount is debited to the profit loss account has been disallowed by the assessee itself in the computation on account of interest expenditure and the disallowance to the extent of balance amount of administrative expenses and other expenses totaling to & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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