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2017 (11) TMI 208 - AT - Income TaxAddition u/s 2(24)(x) r.w.s. Section 36(1)(va) on account of delayed deposit of employees PF - Held that:- The issue is squarely covered in favour of assessee and against the Revenue by the jurisdictional High Court in the case of M/s Vijay Shree Limited (2011 (9) TMI 30 - CALCUTTA HIGH COURT) wherein held deletion of the amount paid by the Employees’ contribution beyond due date was deductible by invoking the aforesaid amended provisions of Section 43(B) of the Act. As the issue is already covered, hence, we dismissed Revenue’s ground of appeal. Addition on account of diversion of interest bearing loan to non-income generating activity - Held that:- DR has not brought on record any change in the facts of the present case with that of the earlier year pertaining to AY 2010-11 where the issue was decided in favour of assessee by the Hon’ble Tribunal in its own case. Indeed, the own capital of assessee is exceeding the amount of impugned investment. - Decided against revenue Addition u/s 14A r.w.s Rule 8D - Held that:- We find that there was no dividend income earned by assessee in the year under consideration. Therefore, the question of making disallowance u/s. 14A of the Act does not arise. Disallowance on account of commission expense - Held that:- As the assessee failed to bring any evidence to justifying the payment of commission expense. Therefore we are not inclined to interfere in the order of Ld. CIT(A). We uphold the same. Hence, this ground of assessee’s CO is dismissed. Disallowance on account of service charge - Held that:- No documentary evidence furnished by assessee to justify the business connection for payment of such expenses.Hence, this ground of assessee’s CO is dismissed.
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