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2013 (11) TMI 318 - AT - Income TaxAllowability of claim of expenditure on account of foreign travel of wives of the Director and President of the company – Held that:- Hon’ble High Court of Bombay in case of Alfa Laval India Ltd. [2005 (7) TMI 48 - BOMBAY High Court] have held that the expenditure on foreign travel of Director’s wife may be allowed depending upon the status of the parties, nature and character of trade or venture, the purpose for which the expenditures were incurred and the objects sought to be achieved by incurring such expenses - Issue requires examination in the light of judgment of Hon’ble High Court of Bombay in case of Alfa Laval India Ltd. (Supra) – Matter restored to the file of AO. Addition on account of arrears of depreciation while computing the book profit u/s 115JB of the Income Tax Act – Held that:- Reliance has been placed on judgment of Hon’ble High Court of Bombay in case of Kinetic Motor Company Ltd. [2003 (1) TMI 47 - BOMBAY High Court], wherein it was held that the accounts prepared and certified in accordance with part 2 and part 3 of schedule VI of the companies Act could not be tinkered with and AO had no jurisdiction to go beyond the net profit shown in the such accounts – Therefore, such addition was deleted – Decided against the Revenue.
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