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 934 - AT - Income TaxConfirmation of FBT - Purchase of gift items – Held that:- Deduction is claimed after filing of return, then the AO is not empowered to entertain that claim made otherwise than by way of revised return required to be filed u/s 139(5) of the Act - Although after filing of return, the AO is not empowered to entertain the claim of the assessee for deduction otherwise than by filing a revised return - the observations on the issue are limited to the powers of the assessing authority and do not impinge on the powers of the Tribunal provided u/s 254 of the Act - the Assessing Officer is not empowered to entertain claim for deduction of the assessee, after filing of return otherwise than by filing a revised return but the powers of this Tribunal as an appellate authority u/s 254 of the Act do not impinge upon this decision. The expenditure incurred on accessories which were supplied to customers who have purchased cars cannot be treated as sale promotion including publicity expenses under clause (D) - the expenditure cannot be categorized as expense incurred for promotion of sales with a view to gain publicity and popularize the product - The assessee offered different schemes through a scratch card and purchaser/customer of a specific item manufactured by the assessee is offered various items as gift - the revenue did not invoke section 115WB(2)(o) of the Act - The AO rightly rejected the claim of the assessee which was filed by way of an application after filing of return because the AO was not empowered to entertain the claim of the assessee otherwise than by filing a revised return - the claim of deduction requires examination and verification at the end of AO – thus, the matter is remitted back to the AO for fresh adjudication – Decided in favour of Assessee.
|