TMI Blog2014 (7) TMI 903X X X X Extracts X X X X X X X X Extracts X X X X ..... plicitly - it is a clear case of non-application of mind by, in fact, both the authorities, by the first appellate authority being equally de hors and without reference to any specifics – there was non-discharge of the burden of proof on it by the assessee, leading to a state of factual indetermination, there was no basis to hold that in the instant case, the Revenue’s case being without reference to the primary facts, and imbued with a complete lack of objectivity, so that no prima facie case is made out for us to consider a set aside for fresh determination – Decided in favour of Assessee. - I.T.A. No. 5426/Mum/2010 - - - Dated:- 18-7-2014 - Shri Sanjay Arora, AM And Dr. S. T. M. Pavalan, JM,JJ. For the Appellant : Shri Vijay Me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as bearing any personal component, viz. bank charges (Rs.9.18 lacs); security charges (Rs.5.55 lacs); LC charges (Rs.3.12 lacs); excise duty (Rs.2.46 lacs); excess TDS written off (Rs.1.25 lacs); interest on FBT (Rs.0.44 lacs). In fact, for others too, as: printing and stationery (Rs.7.58 lacs); staff training and recruitment (Rs.3.44 lacs); product development expenses (Rs.1.41 lacs); business promotion expenses (Rs.1.21 lacs); and advertisement (Rs.0.84 lac), it would be wrong to suggest, without a definite, specific finding in the matter that is which is absent, that the same is based on self-made vouchers, so that the relevant expenditure is not subject to verification. That is, it cannot be a matter of presumption, and to the extent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e personality of the assessee claiming the expenditure. True, there is no denying the fact that a company is a separate legal entity, and which cannot ordinarily be disregarded, as explained by the tribunal in Dy. CIT vs. Haryana Oxygen Ltd. [2001] 76 ITD 32 (Del), further relied upon by the tribunal in the case of Meckechnie Exotech Industries Pvt. Ltd. (supra). We, however, do not observe any attempt by the Revenue in the instant case to either disregard or remove the corporate veil or reference to any illegality having been committed by the assessee-company. The said reliance by the assessee, thus, is of no consequence and, accordingly, fails. 4.2 Coming to the merits of the case, we find, equally, no substance in the Revenue s case. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
