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TAXAP/1889/2009 1/ 1 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 1889 of
2009
=========================================================
COMMISSIONER
OF INCOME TAX-VI - Appellant(s)
Versus
SHYAM
STEELS PVT LTD - Opponent(s)
=========================================================
Appearance
:
MRS
MAUNA M BHATT for
Appellant(s) : 1,
None for Opponent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
and
HONOURABLE
MS JUSTICE SONIA GOKANI
Date
: 11/04/2011
ORAL
ORDER
(Per
: HONOURABLE MR.JUSTICE AKIL KURESHI)
Tax
Appeal is admitted for consideration of following substantial
questions of law :
“(A) Whether
on the facts and in the circumstances of the case, the Appellate
Tribunal erred in law in treating the income of Rs.34 lacs
surrendered by the assessee during the course of survey as business
income and thereby allowing set off of brought forward losses and
depreciation from the said income?
(B)
Whether on the facts and circumstances of the case, the Appellate
Tribunal erred in law in holding that the investment in unaccounted
stock of Rs. 10 lacs was assessable under the head “Income from
other Sources” and accordingly the assessee was eligible for
set off of unabsorbed depreciation of earlier years?
(Akil
Kureshi,J.)
(Ms.
Sonia Gokani,J.)
(raghu)
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