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2011 (7) TMI 775 - AT - Income TaxCapital or revenue expenditure - corporate film making - assesse incurred Rs. 1,25,000/- as corporate filmmaking charges and claimed the same as sales promotion expenses - Held that: the categorical finding of the CIT(A) is that “it has been held in various decisions that the expenditure incurred in making of advertisement film is an expenditure of revenue in nature - Decided in favor of the assessee Regarding addition - assessee had written off advance made to suppliers at Rs. 70,367/- and inter corporate deposit placed with Alpic finance Ltd. Rs. 48,00,000/-, amount not recovered from debtors Rs. 72,552/- and accrued interest on inter corporate deposits Rs. 8,60,274/- aggregating to Rs. 58,03,193 - Held that: the matter is remitted back to AO to examine the issue whether interest received on inter-corporate deposits offered for taxation as business income or not, whether placement of inter-corporate deposits was the normal course of business or not and decide, the entire issue pertaining to addition of Rs. 58,03,193/- consisting of advance made to suppliers at Rs. 70,367/- and inter corporate deposit placed with Alpic Finance Ltd. Rs. 48,00,000/-, amount not recovered from debtors Rs. 72,552/- and accrued interest on inter-corporate deposits Rs. 8,60,274/-, de-novo after providing reasonable opportunity of being heard to the assessee in the matter - Appeal is partly allowed
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