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2022 (7) TMI 383 - AT - Income TaxAddition u/s. 2(22)(e) - deemed dividend for trade advance received from associate company - HELD THAT:- We note that assessee has established that these are business transactions, which do not come in the ambit of the provisions of section 2(22)(e) of the Act. Therefore, respectfully following the judgment of the Hon'ble jurisdictional High Court of Gujarat in the case of Shripad Concrete Pvt. Ltd. [2013 (7) TMI 117 - GUJARAT HIGH COURT] we delete the addition made. Thus, ground no. 1 raised by the assessee is allowed. Addition u/s 36(1)(va) r.w.s 2(24)(x) for delay in depositing of employees' contribution of PF and ESI - HELD THAT:- The issue relating to delay in depositing of employees' contribution of PF and ESI, is squarely covered against the assessee by the judgment of Jurisdictional Hon'ble Gujarat High Court in the case of Gujarat State Road Transport Corporation [2014 (1) TMI 502 - GUJARAT HIGH COURT] - SLP has been filed by the assessee, which has not been adjudicated yet therefore we are of the view that the issue may be remitted back to the file of the Ld. CIT(A) to decide the matter after taking into account the judgment of the Hon'ble Supreme Court as and when will be passed by the Hon'ble Supreme Court. - Decided in favour of assessee for statistical purposes. Nature of expenses - Addition of ROC (Registrar of company) expenses for increasing in authorized share capital - CIT-A and AO rejected the contention of the assessee and made disallowance holding that ROC expenses are in the nature of capital - HELD THAT:- Considering the law of the land as settled on this issue by the Hon' Supreme Court of India in the case of Punjab State Industrial Development Corporation [1996 (12) TMI 6 - SUPREME COURT] and later decision of General Insurance Corporation Ltd. [2006 (9) TMI 116 - SUPREME COURT] finding of the Assessing Officer to disallow the expenses towards increase in authorized share capital and treating the same as capital expenditure is confirmed and the disallowance so made is sustained. - Decided against assessee.
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