The matter was carried in appeal by the assessee.
This decision was companyfirmed by the High Court, hence these civil appeals are filed by the Department.
8509 10 of 2002 Commissioner of Income Tax, Baroda Appellant s versus M s. Core Health Care Ltd. Respondent s KAPADIA, J. For the sake of companyvenience we state the facts occurring in Civil Appeal Nos.3952 55 of 2002 Dy.
CIVIL APPEAL NOS.3952 3955 OF 2002 WITH Civil Appeal Nos.
On 31.12.92 assessee filed its return of income for A.Y. 1992 93 declaring nil income.
Later on the assessee filed a revised return on 6.8.93 declaring a loss of Rs.1,11,68,543/ .
The A.O. vide assessment order dated 30.3.95 disallowed the amount of Rs.1,56,76,000/ placing reliance on the judgment of this Court in Challapalli Sugars Ltd. Anr.
Commr.
of Income Tax, Ahmedabad v. M s. Core Health Care Ltd. These civil appeals are directed against judgment and order dated 25.4.01 delivered by Gujarat High Court in Tax Appeal Nos.449 and 450 of 2000 and in Civil Application Nos.53 and 54 of 2001 whereby the Departments appeals, under Section 260A of the Income tax Act, 1961, stood dismissed.
Therefore, both the authorities, namely, the A.O. and CIT A added the said amount of Rs.1,56,76,000/ to the income of the assessee.
v. Commissioner of Income tax, A.P. and Anr.
