INDIA CEMENTS CAPITAL AND FINANCE LIMITED Vs. ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE-II(3), CHENNAI

JUDGEMENT

(1.) Heard both. By consent, the above tax case appeal itself is taken up for final disposal.

(2.) This appeal is directed against the order passed by the Income Tax Appellate Tribunal, 'C' Bench, Chennai made in ITA.No.1626/Mds/2012 dated 11.8.2016, raising the following substantial questions of law :

(3.) The present appeal arose out of an order passed by the Income Tax Appellate Tribunal, by which, the Revenue's appeal was allowed and the deletion of addition made on account of cessation of bank liability to the extent of Rs.46.05 Crores, as ordered by the Commissioner of Income Tax (Appeals) vide order dated 25.5.2012, was set aside and the order passed by the Assessing Officer dated 13.12.2011 was affirmed.