In Itta/312/2011 Of Andhra Pradesh Fibres Limited v. Addl. Commissioner Of Income Tax, the High Court (2011) dismissed the appeal. The decision went in favour of the Revenue.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
THE HON’BLE THE CHIEF JUSTICE SHRI MADAN B. LOKURANDTHE HON’BLE SHRI JUSTICE SANJAY KUMAR
I.T.T.A. No.312 OF 2011
DATED:03-12-2011
Between: Andhra Pradesh Fibres Ltd.
… Appellant
And Additional Commissioner of Income Tax,Visakhapatnam. … Respondent
THE HON’BLE THE CHIEF JUSTICE SHRI MADAN B. LOKURANDTHE HON’BLE SHRI JUSTICE SANJAY KUMAR
I.T.T.A. No.312 OF 2011
JUDGMENT:(per the Hon’ble the Chief Justice Shri Madan B.Lokur)
1. Learned counsel for the assessee frankly states that asimilar appeal being, I.T.T.A. No. 370 of 2011 was dismissedby a Division Bench of this Court on 15.11.2011 holding thatno substantial question of law arises on the issue whetherthe payment of insurance premium made by the assessee-company for the key man is a business expenditure.
2. Following the order passed in the aforesaid case, thisappeal is also dismissed.
MADAN B. LOKUR, CJ
03-12-2011pnb
SANJAY KUMAR, J
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