All delivery based transaction may not be treated as investment activity

IN THE ITAT MUMBAI BENCH ‘D’ Devji Nenshi Palani Versus Income-tax Officer IT APPEAL NO. 7881 (MUM.) OF 2010 [ASSESSMENT YEAR 2007-08] SEPTEMBER 12, 2012 ORDER Rajendra Singh, Accountant Member This appeal by the assessee is directed against the order dated 29.10.2010 of CIT(A)-24, Mumbai for the A.Y. 2007-08. The assessee in this appeal has raised the disputes on four different grounds. 2. The first dispute is regarding the disallowance of motor car expenses including the depreciation. The A.O. noted that the assessee had claimed total expenditure of Rs. 7,26,416/...