Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 842 - AT - Income TaxExclusion of excise duty and sales tax in the total turnover while computing deduction u/s 80HHC - Held that:- This issue is now covered, in favour of the assessee, by Hon’ble Supreme Court’s judgement in the case of CIT vs. Laxmi Machine Works (2007 (4) TMI 202 - SUPREME Court). - Decided against revenue. Proportionate allocation of expenses - CIT(A) directing that apart from indirect expense already considered by the assessee for proportionate allocation, only auditor’s expenses need to be allocated proportionately and directing the A.O. to rework the indirect expenses for export of trading goods - Held that:- This issue is also now covered, in favour of the assessee, by order in assessee’s own case for the assessment year 2001-02. - Decided against revenue. Disallowance of excess claim of depreciation - reducing the foreign exchange fluctuation gain from the WDV of plant and machinery in view of the provisions of section 43(1) - CIT(A) deleted the addition - Held that:- As learned CIT(A) has rightly held, the provisions of section 43A of the Act come into play only when the asset in question is acquired from outside India whereas, as is the undisputed position on the facts of this case, the related plant and machinery was “indigenous”. There is a categorical finding to that effect by the Assessing Officer himself. As such, the provisions of section 43A of the Act do not come into play at all. Learned Departmental Representative could not point out any other statutory provision under which impugned adjustment could have been made. In view of these discussions, we see no reasons to disturb the relief granted by the ld. CIT(A). We approve the same and decline to interfere in the matter. - Decided against revenue. Depreciation on computer software - Held that:- This issue is rendered infructuous as the matter has been decided , in favour of the assessee, in the case of DCIT vs. Icon Data Management Limited [2012 (11) TMI 1096 - ITAT AHMEDABAD]- Decided against revenue.
|