9911796707
TMI Blog2013 (4) TMI 923X X X X Extracts X X X X X X X X Extracts X X X X ..... ri Ved Jain, FCA And Smt.Rano Jain, CA. ORDER PER G.D. AGRAWAL, VP : This appeal by the Revenue is directed against the order of learned CIT(A)-V, New Delhi dated 4th April, 2012 for the AY 2008-09. 2. The only ground raised by the Revenue reads as under:- "The ld.CIT(A) has erred on facts and in law in deleting addition made by the AO amounting to ₹ 2,08,14,134/- on account of pre-ope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch High Court irrespective of the fact whether a SLP is filed against such decision or not. He further stated that the facts of the assessee's case are identical to the facts in the case of Indian Oil Panipat Power Consortium Limited (supra). 4. Learned DR, on the other hand, relied upon the order of the Assessing Officer. 5. We have carefully considered the arguments of both the sides and perus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntanglements on accounts of title as "Income from other sources". The CIT(A) accepted the stand of the assessee that the interest was in the nature of a capital receipt which was liable to be set off against pre-operative expenses. The Tribunal reversed this order. On appeal, it was held, "allowing the appeals, that the funds in the form of share capital were infused for the specific purpose of ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the above case. The Revenue could not distinguish the facts of the assessee's case from the facts of the case before the Hon'ble Jurisdictional High Court in the above case. The assessee had relied upon the above decision before the Assessing Officer who did not follow the same with the following observations in paragraph 4.3 of the assessment order:- "4.3 The judgment of Hon'ble Delh ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
