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2022 (8) TMI 622 - AT - Income TaxAllowable business expenses - NRI desk expense - as observed amount has not been debited in profit and loss account - assessee was also requested to recast its books of account of permanent establishment in India and explain as to why these expenses should not be considered in Head Office expenses as per section 44C - assessee submitted that NRI desk expenses have been certified by independent firm of Chartered Accountants as having been incurred by the Head Office for and on behalf of the assessee Bank’s Indian branches - HELD THAT:- We find that coordinate bench of the Tribunal in assessee’s own case in ADIT v/s Bank of Bahrain and Kuwait [2011 (1) TMI 923 - ITAT, MUMBAI] for the assessment year 2002–03, while restricting the applicability of section 44C of the Act only in respect of allocable expenses and at the same time fully allowing direct staff cost. Departmental Representative could not show us any reason to deviate from the aforesaid order and no change in facts and law was alleged in the relevant assessment year. Thus, respectfully following the order passed by coordinate bench of the Tribunal in assessee’s own case cited (supra), we find no infirmity in the impugned order passed by the learned CIT(A). Accordingly, the sole ground raised in Revenue’s appeal is dismissed.
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