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2015 (2) TMI 889 - HC - Income TaxAddition u/s 68 - Tribunal deleted the addition - Held that:- Tribunal has decided this point on fact that the company received the amount of capital from the Managing Director.Hence, the addition cannot be made on account of the company. This decision has been rendered on factual finding. No reason to interfere with the same, as no element of law is involved. - Decided in favour of assessee Disallowance made u/s. 40(a)(ia) - Tribunal deleted the disallowance - Held that:- Tribunal by following the decision of the Kolkata High Court in CIT vs. Virgin Creations (2011 (11) TMI 348 - CALCUTTA HIGH COURT ), wherein it has been held that the amendment to the provisions of Section 40(a)(ia) is retrospective in operation and consequently in respect of any payment of TDS made before the due date for the filing of the return of income, the provisions of Section 40(a)(ia) cannot be invoked. No reason to interfere. - Decided in favour of assessee
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