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2020 (9) TMI 88 - AT - Income TaxExpenditure u/s 37(1) - expenditure claimed on account of Interest on delayed payment of entry tax and secondly on account of Charges on delayed supply of books to M.P. Text Book Corporation Ltd - AO has disallowed expenditure by relying on the judgment in the case of Bharat Commerce and Industries Ltd. [1998 (3) TMI 2 - SUPREME COURT] - HELD THAT:- The issue before Hon'ble Supreme Court was regarding interest paid for delayed payment for advance tax. However, the issue in present case is related to payment made by the assessee on account of delay in supply of books. Therefore, disallowing the entire amount by the Assessing Officer was not justified. Hence, the Assessing Officer is directed to delete the addition made on account of disallowance of expenditure related to delay in supply of the books. Regarding interest on entry tax and TDS division bench of this Tribunal in the case of M/s Naarayani Sons Pvt. Ltd. in 2018 (8) TMI 1362 - ITAT KOLKATA] after considering the judgment of Hon'ble Supreme Court in the case of Bharat Commerce and Industries Ltd. vs. CIT (Supra) decided the issue in favour of the assessee
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