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2017 (4) TMI 1469 - ITAT AHMEDABADDisallowance u/s 14A read with Rule 8D - HELD THAT:- As rightly held in assessee's own case [2016 (6) TMI 385 - GUJARAT HIGH COURT] when there was interest free funds available with the assessee, there does not arise a question of disallowing expenditure under Section 14A Nature of expenditure - payment towards control system for heat setting and stretching machine - revenue or capital expenditure - HELD THAT:- After giving a thoughtful consideration to the factual matrix qua the findings of the First Appellate Authority, in our considered opinion, by incurring the impugned expenditure no new asset has come into existence. Therefore, there is no error or infirmity in the findings of the ld. CIT(A). This ground is accordingly dismissed. Addition on account of plastering, RCC work, fencing, flush system, etc - allowable revenue expenditure - HELD THAT:- Bearing in mind the ratio of the decision of the Apex Court in the case of Saravana Spinning Mills P. Ltd. [2007 (8) TMI 16 - SUPREME COURT] and coming back to the facts of the present case, it can be seen that by carrying out the repairs, the assessee did not bring into existence any new assets but was required to expend amount to preserve and maintain the asset already in existence. TDS u/s 194H - Addition u/s 40(a)(ia) - amount to various dealers as incentives - HELD THAT:- The Hon’ble Supreme Court in the case of Ahmedabad Stamp Vendors Association [2012 (9) TMI 298 - SC ORDER] had held that the discount given to stamp vendors for purchasing stamps in bulk quantity was in nature of cash discount in transaction of sale, and, therefore, section 194H has no application to that transaction. - Decided in favour of assessee
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