Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (2) TMI 136 - ITAT MUMBAIDisallowance of Sundry balance written off and Traveling Expense as no details were submitted - Held That:- Details only gave the name of the party, amount, date and no further details as to whether these were taken into account in computation of income of earlier years etc. is not available. Similarly, in respect of traveling expenses, the details given are only the date wise payments made to Deep Tours & Travels.CAse remanded back to AO for fresh perusal giving an opportunity to assessee. Disallowance of expense in relation to exempt Income - A/Y 06-07 thus Rule 8D not applicable - Held That:- In view of Godrej and Boyce Manufacturing Co. Ltd case remanded back. Manufacture - conversion of rough marble blocks into polished and finished marble slabs, tiles, table tops - Held That:- The end product was recognized as commercial product distinct from the input.Reliance placed on Lucky Minmat Pvt. Ltd. Vs CIT (2000 - TMI - 5818 - SUPREME Court), decided in favour of assessee.
|