ACIT, CHENNAI V. Carborundum Universal Limited, CHENNAI

ITA 1741/CHNY/2014

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 9342 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-05-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2008-2009
• Appeal Filed On: 18-06-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

37 I.T.A. NO.1525/MDS/14 I.T.A. NOS.1736 TO 1742/MD S/14 PROVIDED ANY DETAILS WITH REGARD TO SHAREHOLDING PA TTERN OF THE COMPANIES IN WHICH THE INVESTMENTS WERE MADE. IN T HE ABSENCE OF ANY SUCH DETAILS, THE ASSESSING OFFICER HAS NO OTHE R OPTION BUT TO APPLY RULE 8D. THEREFORE, THIS TRIBUNAL DO NOT FIN D ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SAME IS CONFIRMED. 56. IN THE RESULT, THE ASSESSEES APPEAL IN I.T.A. NO.1740/MDS/2014 IS DISMISSED. 57. TO SUMMARISE THE RESULT, REVENUES APPEAL IN ITA.NO.1741 & 1525/MDS/2014 A RE DISMISSED ITA.NO.1742/MDS/2014 IS PARTLY ALLOWED ASSESSEES APPEAL IN ITA.NO.1739/MDS/2014 IS ALLO WED, ITA.NO.1738/MDS/2014 IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ITA.NOS.1736, 1737 & 1740/MDS/2014 ARE DISMISSED. ORDER PRONOUNCED ON 19 TH MAY, 2016 AT CHENNAI. SD/- SD/- (. ) ( . . . ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, /DATED, THE 19 TH MAY, 2016. KRI.