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Case Law Details

Case Name : ADIT Vs Dolphin Drilling Ltd. (ITAT Delhi)
Related Assessment Year : 2009- 10
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Assessing Officer ignored the very fact that there was a temporary lull in the business of the assessee and it was not a cessation of business of activity. Therefore, the Assessing Officer disallowed the expenses incurred by the assessee for continuation of its business which deserve to be allowed. During the argument, the AR has submitted a detail of gross receipts from AY 2004-05 to 2012-13 which reveals that except assessment year under consideration in this appeal i.e. 2009-10, the gross receipt of the assessee is of high volume during the preceding and subs

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