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TMI Blog2014 (11) TMI 1200X X X X Extracts X X X X X X X X Extracts X X X X ..... other: 1. Re: Treatment of income from manufacturing services as income from other sources amounting to Rs. 2,70,75,330/-: 1.1 On the facts and in the circumstances of the case and in law, the Commissioner of Income T ax (Appeals) [hereinafter referred to as 'the CIT (A)'J erred in upholding the stand of the Assessing Officer that the income received for manufacturing services rendered is assessable under the head 'Income from Other Sources' on the ground that there was no involvement of the Appellant in the manufacturing activity. 2. Re: Treatment of lease rental as income from other sources - Rs. 3,00,00,000/-: 2.1 On the facts and in the circumstances of the case and in law, the CIT (A) erred in upholding the stan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the actual expenditure incurred for earning the above income. 5. Deduction u/s 35 (1) (i) in respect of expenditure incurred for R&D activity: 5.1 On the facts and in the circumstances of the case and in law, the CIT (A) grossly erred in upholding the disallowance u/s 35(1)(i) claimed by the Appellant. 5.2 Without prejudice to the above, the CIT (A) grossly erred in not allowing deduction u/ s. 37 (1) or u/s. 57 with regard to the R&D expenditure incurred. 6. Re: Disallowance of deduction u/s. 35(1){iv) of Rs. 2,08,27,122/.: 6.1 On the facts and in the circumstances of the case and in law, the CIT (A) erred in upholding the disallowance of deduction u/s 35(1) (iv) claimed by the Appellant on the capital expenditure incurred on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 12.2.2012 hence there is a delay of 64 days in fling the appeal." 4. Considering the above, we are of the opinion that there is a sufficient and reasonable cause for not filing the appeal before the ITAT within the stipulated time. Therefore, we condone the delay of 65 days in filing the appeal before the ITAT and proceed to adjudicate the appeal on merits. 5. At the very outset, Ld Counsel for the assessee brought our attention to the grounds and mentioned that all the grounds revolve around the issue of charging of certain receipts under the head "income from other sources‟ and allowability of the claim of expenditure against the said receipts. Assessee received such receipts out of manufacturing services as well as rental recei ..... X X X X Extracts X X X X X X X X Extracts X X X X
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