Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 727 - HC - Income TaxDisallowance of expenses on advertisement, publicity and sales promotion, vehicle upkeep expenses, payments made to hotels u/s 37 - Held that:- On analysis of provisions of sub - sections to section 37 - The issue raised by the assessee regarding aggregation of items specified in sub-section (3B) is a debatable issue - The AO could not have filed an application under Section 154 to rectify the mistake as it is not a mistake apparent from record - The CIT (A) and Tribunal have erred in interpreting the deduction under Section 37 (3A)/(3B) by reading the word 'or' after each of the clauses (i), (ii) and (iii) of sub-section (3B). The word 'or' has to be seen in the context of the deduction for expenses on any one or more of the items. Such expenses have to be aggregated for the purposes of allowing deduction - If the words of the Statute are in themselves precise and unambiguous, then no more can be necessary than to expound these words in their natural and ordinary sense. The words thesemselves alone do, in such case, best declare the intention of the law givers - Decided in favour of Revenue.
|