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2015 (6) TMI 665 - AT - Income TaxDisallowance u/s 40(a)(ia) - non deduction of TDS - CIT(A) deleted the addition following the decision of Merilyn Shipping & Transport Limited - Held that:- The decision of Merilyn Shipping & Transport Limited [2012 (4) TMI 290 - ITAT VISAKHAPATNAM] as relied upon by CIT(A) in allowing claim but the said decision has not been approved in the case of Crescent Exports Syndicate [2013 (5) TMI 510 - CALCUTTA HIGH COURT ]. Thus on the basis of which the ld. CIT(Appeals) has allowed the relief to the assessee, we, therefore, set aside the order of the ld. CIT(Appeals) and restore this issue to the file of the CIT(Appeals) with a direction that the ld. CIT(Appeals) shall re-decide the appeal of the assessee afresh in accordance with law after giving proper and sufficient opportunity to the assessee. - Decided in favour of revenue for statistical purposes. Disallowance of ROC expenses - CIT(A) allowed claim - Held that:- Before the CIT(Appeals), the assessee submitted that the ROC expenses is part of preliminary expenses and pre-operative expenses as mentioned in Schedule 8 and only 1/5t h of such expenses has been claimed as deduction. CIT(Appeals) restored this issue to the file of the Assessing Officer mentioning that Assessing Officer while giving effect to this order will re-check the amount actually claimed by the assessee and give consequential relief. This ground of appeal is allowed subject to the directions given above. - Decided against revenue. Disallowance of insurance - difference in the stock as taken in the books of accounts - CIT(A) allowed claim - Held that:- no interference is called for in the order of CIT(Appeal s). The assessee held the insurance of the stock of ₹ 1.25 crores, but it does not mean that the assessee was having the said stock in its books of accounts. Even otherwise, the stock policy has been taken on 12.02.2008 while the value of stock in the balance sheet has to be taken at the end of the year, i.e. 31.03.2008 in the impugned case. The basic presumption made by the Assessing Officer is incorrect while making the addition on the basis of difference in the stock as taken in the books of accounts. We accordingly confirm the order of CIT(Appeals) - Decided against revenue.
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