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2013 (11) TMI 139 - AT - Income TaxDisallowance of deduction u/s 80HHC – Loss on exports incurred by the company - Held that:- The assessee could not reconcile the figures before the Revenue – The issue went to files of assessing officer for fresh adjudication – Decided in favour of assessee. Disallowance of amount contributed to provident fund u/s 56(2) – Held that:- Following Alom Extrusions Ltd. [2009 (11) TMI 27 - SUPREME COURT] – In view of retrospective amendment to section 43B stating that the deduction shall be allowed if payment is made on or before the due date of furnishing of return of income – assessee made the payment before filing of Return of Income – Decided in favour of assessee. Disallowance out of motor car expenses – Interest on car loans – Depreciation on cars – Held that:- Assessee has not allowed the cars for personal use of either the Director or employee of the assessee – Following CIT vs. Metalman Auto P. Ltd [2011 (2) TMI 330 - PUNJAB AND HARYANA HIGH COURT] - Depreciation under section 32 was allowable to the assessee company on the assets which were purchased in the name of managing director of the assessee company and his wife but, used exclusively for the assessee’s business – Decided in favour of assessee. Disallowance of expenses on foreign travelling – Held that:- The onus to prove that expenses are incurred for business purposes is on assessee – The company has not made any exports/ imports to/ from the country visited – The assessee has not produced any evidence regarding any meeting or letter of intent for import of appellant’s goods / material from any party in London or UK – Not furnished the name and other details of any party whom the persons met for the purpose of any business in London - Decided against assessee. Busineses promotion and telephone expenses – Held that:- In view of deficiencies of bill and vouchers of the expenses, the disallowance was restricted to 10% in case of business promotion expenses and 5% in respect of telephone expenses as against disallowance of 25% an 10% respectively made by the assessing officer – Decided against assessee.
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