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TAXAP/1600/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1600 of 2008
=========================================================
COMMISSIONER
OF INCOME TAX-II - Appellant(s)
Versus
M/S
SOUTH GUJARAT SHARE AND SHARE BROKERS LIMITED - Opponent(s)
=========================================================
Appearance
:
MRS
MAUNA M BHATT for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MS.JUSTICE HARSHA DEVANI
and
HONOURABLE
MR.JUSTICE H.B.ANTANI
Date
: 17/01/2011
ORAL
ORDER
(Per
: HONOURABLE MS.JUSTICE HARSHA DEVANI)
Heard
Mr. B.B. Naik, learned Senior Advocate appearing on behalf of the
appellant. ADMIT. The
following substantial questions of law arise for determination:
“[1] Whether
on the facts and in the circumstances of case, the Income Tax
Appellate Tribunal was right in law in deleting addition of Rs.
7,45,360/- made on account of brokerage income?
[2] Whether
on the facts and in the circumstances of the case, the Income Tax
Appellate Tribunal was right in law in deleting disallowance of Rs.
13,03,244/- as brokerage incentives to the sub-brokers?
[3]
Whether on the facts and in the circumstances of the case, the Income
Tax Appellate Tribunal was right in law in deleting disallowance of
Rs.23,47,287/- as bad debts or trading loss under section 28[1] of
the Income Tax Act, 1961?”
In so
far as the proposed question no.4 is concerned, the same is not
pressed in the light of the fact that the Tribunal has restored the
issue to the file of the Assessing Officer.
[HARSHA
DEVANI, J.]
[H.B.
ANTANI, J.]
pirzada/-
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