CIT-I Vs. MALIBU ESTATE P. LTD.

JUDGEMENT

(1.) ADMIT .

(2.) THE question of law raised by the Revenue in its appeal under Section 260A of the Income Tax Act, 1961 (hereafter referred to as "the Act") is with respect to the correctness of the ITAT's order dated 13th December, 2013 in ITA No. 2278/Del/2011. The Revenue urges that the ITAT fell into error in permitting the accountancy practices of the assessee for the relevant year.

(3.) THE CIT(A) held that identical practice had been followed by the assessee for the previous year, Assessment Year 2006 -07 and that AO's addition had been set aside. The CIT(A) 's order then noted the relevant extracts of his order for the previous year. The ITAT in the present case refused to accept the Revenue's contentions, and held as follows: -