Case Law Details
Case Name : DCIT Vs. M/s. Orient Paper & Industries Ltd. (ITAT Kolkata)
Appeal Number : I.T.A Nos. 1936 & 1937/Kol/2014
Date of Judgement/Order : 09/06/2017
Related Assessment Year : 2006- 07 & 2007- 08
Courts :
All ITAT ITAT Kolkata
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1. In this appeal the only issue that is to be decided as to whether the CIT-A justified in holding that the purchase of sales tax exemption certificates is a revenue expenditure in the facts and circumstances of the case.
2. The brief facts of the case are that the assessee is a company and engaged in manufacturing of papers, cement, fans and other engineering products. Initially, the assessment was completed u/s. 143(3) of the Act on 23-12-2011. Thereafter, the CIT II Kolkata having exercising his jurisdiction u/s. 263 of the Act declared that the said assessment was erroneous and prejudicial to the interest of revenue and directed the AO to examine the issue regarding the allow ability of sum of Rs. 1,62,74,997/- claimed towards purchase of sales tax exemption certificates and to frame the assessment denovo vide his order date 14-03-2011.
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