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2017 (9) TMI 1947 - AT - Income TaxRevenue expenditure allowance - Interest payable in EDC charges terming the same as penal in nature - allowable expenditure u/s 37 or penal in nature as interest has been charged by concerned authority for delay - HELD THAT:- We are of the considered view that the facts and circumstances of the case of the assessee’s case is exactly the similar and identical to the decision of the Hon’ble High Court in the case of CIT vs. Enchante Jewellery Ltd. [2012 (12) TMI 169 - DELHI HIGH COURT ] - Therefore, addition confirmed by the Ld. CIT(A) out of interest payable in EDC charges terming the same as penal in nature is hereby deleted and the ground of appeal raised by the assessee is allowed.
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