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2013 (3) TMI 485 - AT - Income TaxDisallowance U/s 14A & Sec.40(a)(ia)- Applicability of sec. 115JB - Interest under section 234A to 234D - Held that:- The addition made under section 14A of the Act would be an expenditure relatable to an income to which section 10 applies and, therefore, clause (f) of Explanation 1 to Section 115JB of the Act would be attracted. While deciding disallowance U/s 14A of the assessee we have already set aside this issue for fresh consideration by the AO With this observation Ground under applicability of sec. 115JB is dismissed. Regarding the applicability of Sec.40(a)(ia) - TDS - heritage hotel income - Rent u/s 194I - Held that:- It appears to us that it was a business arrangement between the assessee and MMCPL pursuant to which the sum of Rs.15 lakhs was paid by the Assessee to MMCPL and the said payment cannot be termed as rent. This further strengthened by the accounting treatment given by the assessee. The decision in the case of Kamat Hotels India Ltd. (2000 (3) TMI 1039 - ITAT MUMBAI) also supports the plea of the assessee.
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