ANAMIKA CONDUCTORS PVT LTD VS ACIT, CIRCLE -6, JAIPUR

Parties Involved

Facts Summary

The case involves two appeals filed by the assessee, M/s. Anamika Conductors (P) Ltd, against orders of the ld. CIT(A)-4, Jaipur for the assessment years 2015-16 and 2016-17. The assessee challenged the disallowance of certain expenses and investments by the ld. CIT(A). The Tribunal reviewed the arguments and found that the disallowances were not justified as there was no income from the investments and no specific disallowable expenses were pointed out by the ld. CIT(A).…

Legal Issues

• 1. Non-application of Section 145(3) of the I.T. Act in accepting book results declared by the assessee.
• 2. Disallowance of Rs.85,124/- for investments made in equity shares of other companies.
• 3. Disallowance of Rs.17,23,212/- for business expenses.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Basant Properties Ltd. vs. ACIT, Circle-5(1), Kolkata

  Kolkata Bench benchAY 2017-18Allowed

• Dynamic Transmission Ltd. vs. ACIT, CIRCLE, ROHTAK

  Delhi Bench benchAY 2013-14, 2014-15Allowed

• DCIT, Circle – 5(1), Kolkata vs. M/s Techno Electric & Engineering Company Limited

  Kolkata Bench benchAY 2017-18Dismissed

• DCIT, GHAZIABAD, VS. SALUJA OVERSEAS PVT. LTD.

  Delhi Bench ‘G’ New Delhi benchAY 2017-18Dismissed

• ACIT, Circle 28 (1) vs. Metoropol Corporation India

  Delhi Bench benchAY 2017-18Partly Allowed

• Income Tax Appellate Tribunal

  Mumbai bench