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2013 (6) TMI 313 - HC - Income TaxCommission expenses - genuineness of transactions and reasonableness of payments - held that:- the entire issue is based on appreciation of relevant evidence on record. In terms of such evidence concurrently, the CIT(A) as well as the Tribunal held that payment of commission was not only genuine but also in terms of the agreement between the parties. - deduction allowed - decided in favor of assessee. Addition on account of writing back of loan liability - remission of liability - held that:- Tribunal finds support from the decision of this Court in case of Chetan Chemicals (P.) Ltd. (2001 (10) TMI 12 - GUJARAT High Court ) - revenue, however, placed reliance on the decision of Delhi High Court in case of Rollatainers Ltd. v. CIT [2011 (8) TMI 447 - DELHI HIGH COURT] where, the distinction is drawn for cessation of liability on the basis whether the loan was a trading liability or a capital liability. - when the Assessing Officer did not pursue this line and brought no evidence on record to make a discussion as is sought to be legally canvassed before us, at this stage, we cannot find fault with the view of the Tribunal. - decided against the revenue. Interest income of FDRs - taxability - held that:- Since this income was already offered by the assessee, no further addition is required to be made. - Decided against the revenue.
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