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2017 (8) TMI 1415 - HC - Income TaxDisallowance u/s 14A - Hed that:- Issue is directly covered by the judgment of this Court in a case of M/s. Godrej & Boyce Manufacturing CO. Ltd. Vs. DCIT, reported in (2010 (8) TMI 77 - BOMBAY HIGH COURT) Disallowance u/s 40(a)(ia) - amount of variable cost portion of the lease of the aircraft payable by the assessee and tax at source has to be deducted on the same - Tribunal set aside disallowance - Held that:- Tribunal has considered that the assessee had entered into an agreement to avail flying hours with Taj Air. The assessee has assigned these rights of flying hours to Tata Motors Ltd. The credit note was issued to the assessee for sum of ₹ 14.95 lakhs towards variable costs. This credit note was issued by the Tata Motrs Ltd. towards variable costs and not in the nature of any expenses made to Taj Air. The credit note was not in the nature of expenses on which provision of TDS is applicable. The Tribunal has rightly considered the said aspect.
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