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2008 (1) TMI 572 - HC - Income TaxBusiness Expenditure- The assessee claimed deduction of reimbursement of attire expenses granted to its employees. The Tribunal granted deduction of 50 percent. of the claim of the assessee. The Tribunal also reduced the interest levied for short deduction of tax at source. Held that- (i) since the Tribunal has failed to assign reasons for granting 50 percent, of the claim, the matter was remanded for fresh consideration. (ii) that the explanation offered by the assessee that the amount collected could not be deposited under banafide mistake required reconsideration in order to find out the bona fide of the explanation.
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