Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 1871 - AT - Income TaxDisallowance made on account of BMC Charges and Custom charges - HELD THAT:- In the present case, the assessee has paid the charges on account of regularization charges to the BMC and DR has not brought in our notice that any deviation is an offence under the statutory provision or by-laws of BMC. We have also seen the order passed by Commissioner of Custom (import) dated wherein, the goods of the assessee were permitted to be clear on the payment as levied under various provision of Custom Act. Considering all the disallowance made on account of BMC Charges and Custom charges are deleted. - Decided in favour of assessee. Disallowance made u/s 14A r.w.r. 8D - As per CIT disallowance out of administrative expenses worked out on the basis of formula in Rule 8D, made u/s.14A by the AO, is upheld - HELD THAT:- The assessee has not satisfied the AO as to why the disallowance U/s 14 A read with Rule 8D, be not made, however before the CIT(A) the assessee had admitted that and indirect expenditure of Rs. 93,12,971/- has been charged to the P/L account an estimated amount of Rs. 10,000/- could have been incurred in earning the exempt income. Thus both the condition for invoking Rule D was satisfied. The ld AR for the assessee has not brought any material before us as to why the disallowance made u/s 14 A read with Rule D is wrong, thus the addition u/s 14A, made by AO , which was sustained by CIT(A) does not require any interference. - Decided against assessee.
|