Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 804 - AT - Income TaxDisallowance of entertainment expenses Held that:- The assessee has kept and furnished the details of entertainment expenses - he has perused the details of the entertainment expenses and the copies of the bills in support of the expenses - neither the AO nor the CIT(A) has pointed out any defect in the details/bills/vouchers presented before them in support of the claim - the assessee has hived off its advertisement business during the current year - The business has been hived off some 8 years ago - The findings of the CIT(A) appear to be on the wrong appreciation of fact the AO is directed to delete the entire addition made on account of entertainment expenses Decided in favour of Assessee. Disallowance of write off of deposits with MTNL Held that:- The deposits were given to MTNL in the ordinary course of business - the CIT(A) has given a finding that the assessee itself has disallowed Rs. 78,000/- which was claimed by it being outstanding amount of telephone bills adjusted by MTNL from the refund - the deposits were given in the ordinary course of business, the write off deserves to be allowed as business expenditure Decided in favour of Assessee. Disallowance of deduction of society charges Held that:- Following The Commissioner of Income-Tax-V Versus RJ. Wood Pvt. Ltd [2011 (1) TMI 889 - DELHI HIGH COURT] - the maintenance and other charges paid by the assessee were deductible from the rent while computing the annual letting value - in the absence of any contrary decision on record by the Revenue, the society charges paid by the assessee in respect of the let out property are allowable while computing the annual letting value of the property the AO is directed to allow the claim of society charges by the assessee Decided in favour of Assessee. Disallowance of deduction of Municipal taxes Held that:- The Municipal taxes are allowable deduction while computing the annual letting out value the matter is remitted back to the AO for fresh adjudication after verifying the payment of Municipal Taxes Decided in favour of Assessee.
|