INCOME TAX OFFICER Vs. HARE KRISHNA INTERNATIONAL LTD.

JUDGEMENT

(1.) THE Revenue has filed the present appeal against the impugned order dated 27/10/2010 passed by the Ld. Commissioner of Income Tax (Appeals) -XXVII, New Delhi on the following grounds :-

(2.) The facts in brief are that the assessment order was passed by the AO on 30.12.2009 u/s. 147/143(3) of the Income Tax Act, 1961, assessing the total income at Rs. 1,07,21,150/- for the assessment year 2002-03 thereby making an addition of Rs. 1,07,31,000/- u/s. 68 of the Act. Being aggrieved with the aforesaid assessment order, assessee appealed before the Ld. CIT(A), who vide impugned order dated 27.10.2010 has deleted the addition and partly allowed the appeal of the Assessee.

(3.) AT the time of hearing Ld. D.R. relied upon the order of the AO and reiterated the contentions raised by the Revenue in the grounds of appeal and filed the Written Submission dated 28.1.2015 as under :-