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2012 (1) TMI 278 - AT - Income TaxAddition of proportionate interest being interest free loan to its subsidiary concern - commercial expediency for assessee to advance such loan - Held that:- Since the ld. CIT(A) while deleting the disallowance has followed the order of his predecessor for A.Y. 2004-05 and since the Tribunal has restored the issue to the file of the A.O. for fresh adjudication, therefore, we deem it proper to restore this issue to the file of the A.O. with a direction to adjudicate the same in the light of the direction of the Tribunal in assessee’s own case for A.Y. 2004-05 and in accordance with law after giving due opportunity of being heard to the assessee. The ground raised by the Revenue is accordingly allowed for statistical purposes. Addition of expenditure on corporate club membership fees - Held that:- Respectfully following the order of the Tribunal in assessee’s own case and in absence of any contrary material brought to our noticeby the ld. D.R. we set aside the order of the ld. CIT(A) on this issue and direct the A.O. to delete the disallowance. Addition u/s 14A - Held that:- We restore the issue back to the file of the A.O. with a direction to adjudicate the same afresh in the light of the decision of the Hon’ble jurisdictional High Court in the case of Godrej Boye Mfg. Co. Ltd. (2010 (8) TMI 77 - BOMBAY HIGH COURT) and in accordance with law after giving due opportunity of being heard to the assessee. We hold and direct accordingly.
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