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Commissioner of Income Tax-4 Versus M/s. Prime Broking Co. (I) Ltd.

2015 (6) TMI 680 - BOMBAY HIGH COURT

Disallowance under Section 40(a)(ia) - rent payment made without deduction of TDS - ITAT deleted the addition - Held that:- Commissioner of Income Tax (Appeals) as well as the Tribunal has reached a concurrent finding of fact that the payment made by .....

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perverse. Thus, no substantial question of law arises for our consideration and the appeal seeks to challenge concurrent findings of fact. - Decided against revenue. - Income Tax Appeal No. 1576 of 2013 - Dated:- 9-6-2015 - M. S. Sanklecha And N. M. .....

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the order dated 14 November 2012 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order pertains to Assessment Year 200809. 2 The appellant has formulated the following questions of law for our consideration: "Whether on .....

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without deduction of TDS, and hence was clearly disallowable as per Section 40(a)(ia) of Income Tax Act, 1961 ? 3 During the course of assessment proceedings for the subject assessment year, the Assessing Officer found that the assessee had paid S .....

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51.91 lacs should not be disallowed under Section 40(a)(ia) of the Act. The respondent assessee pointed out that the premises occupied by them has been taken on rent by its holding company M/s. Prime Securities Ltd. It was its holding company which .....

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at source. However, the Assessing Officer did not accept the respondent assessee's contention and by an assessment order dated 2 November 2011 disallowed the entire payment of ₹ 51.91 lacs under Section 40 (a)(ia) of the Act. 4 On appeal, .....

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d not payment of rent. In support, the Commissioner of Income Tax (Appeals) placed reliance upon the decision of this Court in C.I.T. v/s Siemens Aktiongesellschaft, reported in 310 ITR 320, to hold that, in case of reimbursement of expenditure no in .....

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ment of expenditure. Further reliance was placed upon the decision of this Court in the case of Siemens (supra) to conclude that no tax at source is deductible while making reimbursement of expenses as the same does not have any income element. 6 The .....

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