In Itxa/556/2008 Of Commissioner Of Income-Tax-19, Mumbai v. M/S. Concept International, the High Court (2008) dismissed the appeal. The decision went in favour of the assessee.
Issue: The question raised in this appeal is whether the tribunal was justified in deleting the addition of Rs.20,00,000/- made by the assessing officer on account of estimated export incentive that might have been received by the assessee.
Decision: Hence, the appeal is dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
AGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY
AGK
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.556 OF 2008
Commissioner of Income-tax-XIX ..Appellant.
V/s.
M/s.Concept International ..Respondents.
Mr.A.S. Shivsharan for the appellant.
CORAM : D.K. DESHMUKH &
J.P. DEVADHAR, JJ.
DATED : 20TH OCTOBER, 2008.
P.C. :
1. The question raised in this appeal is
whether the tribunal was justified in deleting the
addition of Rs.20,00,000/- made by the assessing
officer on account of estimated export incentive
that might have been received by the assessee. The
fact that the assessee could not produce documents
could not be a ground to make addition on
hypothetical basis. If the additions made are
without any basis, the decision of the tribunal in
deleting the additions cannot be faulted. Hence,
the appeal is dismissed.
D.K. DESHMUKH, J.
J.P. DEVADHAR, J.
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