Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (9) TMI 314 - AT - Income TaxForeign Travelling Expenses - Treatment of expenditure as revenue or capital - Held that:- One of the partner of the assessee firm went abroad to purchase a machine for the purposes of business and the same was subsequently purchased and put to use in the business.In such a scenario, the foreign travelling expenses incurred by the assessee firm, since admittedly is for the purposes of business only and needs to be allowed as revenue expenditure - Decided in favor of assessee. TDS liability - addition u/s 40(a)(ia) - non-deduction of TDS on payment of interest being paid to M/s L&T Finance Ltd.- payee has included the amount paid by payer in its return of income - Held that:- As payee has included the amount of interest so paid by assessee in its return of income and tax due there on has been paid then there is no need to make any disallowance for non deduction of TDS on interest u/s 40(a)(ia) . See CIT vs Ansal Land Mark Townships Pvt. Ltd. [2015 (9) TMI 79 - DELHI HIGH COURT] - Decided in favor of assessee.
|