Appeal u/s. 260-A involving substantial question of fact not entertained: Karnataka HC

PCIT Vs Jupiter Enterainment Ventures (P)Ltd. (Karnataka High Court) Karnataka High Court dismissed the appeal filed by the revenue under section 260-A of the Income Tax Act as question raised by the Revenue is not a substantial question of law and it is a question of fact. Appeal u/s. 260-A can be entertained only when it involves substantial question of law. Facts- The Assessing Authority disallowed a sum of Rs.11,27,00,000/-, which the assessee claimed it as business loss. The Assessing Authority had also disallowed certain other claims of the assessee. The assessee preferred appeal before ...