ACIT, Circle-17(1), New Delhi-110002 Vs Mohan Exports India Pvt. Ltd.
Case No: ITA No. 5562/Del/2017
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘E’, NEW DELHI
Date: 1/22/2025
Parties Involved
appellantACIT, Circle-17(1), New Delhi-110002
respondentMohan Exports India Pvt. Ltd.
Facts Summary
This case pertains to an appeal by the Revenue against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2013-14. The Revenue raised several grounds of appeal concerning disallowances made by the CIT(A). The main issues revolved around the disallowance of Rs. 20,25,60,179/- on account of 'notional loss', Rs. 8,22,07,457/- on account of 'interest paid on residential property', Rs. 6,06,06,535/- on account of 'expenses incurred by directors on foreign travelling', …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) was legally justified in deleting the disallowance of Rs. 20,25,60,179/- on account of 'notional loss'.
- 2. Whether the CIT(A) was legally justified in deleting the disallowance of Rs. 8,22,07,457/- on account of 'interest paid on residential property'.
2 more legal issues analysed in this judgement.
Precedents Relied Upon
5 precedents cited in this judgement.