Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

ITO, Co. Ward 5 (2) , New Delhi Versus Kedia Infotech Ltd

Disallowance of Licensing/registration fee & ISO registration fees - CIT(A) deleted the addition - revenue v/s capital in nature - Held that:- CIT(A) granted relief by holding that the AO could not understand the business activity of the assessee properly. He further observed that the assessee company was doing business of giving card to customers of different business entities and impugned expenditure incurred towards plant registration and licensing and registration fee for different places al .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

- I.T.A .No.-6527/Del/2013 - Dated:- 28-8-2015 - SHRI N.K. SAINI, ACCOUNTANT MEMBER AND SHRI C.M. GARG, JUDICIAL MEMBER For The Appellant by Sh. Atiq Ahmad, Sr. DR For The Respondent by Sh. Prasant Khandelwal, CA ORDER PER C.M. GARG, J.M. This appeal by the Revenue has been preferred against the order of the CIT(A)-VIII, New Delhi dated 24.05.2013 in Appeal No. 539/2011-12 for A.Y. 2004-05. 2. The grounds raised by the Revenue read as under: 1. Whether on the facts and circumstances of the case .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

der of the CIT(A) and ratio of the judgments/orders relied by both the sides. The ld. DR submitted that the AO was correct in holding that the expenditure incurred on account of licensing/registration fee and ISO registration fees is in the nature of an expenditure which is of enduring benefit to the assessee. The ld. DR vehemently submitted that CIT(A) granted relief without any basis. Hence, impugned order may kindly be set aside by restoring that of the AO. 4. The ld. Assessee s Representativ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tten contentions before CIT(A) challenging the conclusion of the AO which reads as follows: Written submission 1. That tax Audit report of the company is enclosed herewith. In continuance to our earlier reply we submit as under: 2. That development centres are backbone of Kedia Infotech Limited for servicing and promoting E-Tran Digicash holders members. These centre provide independent training and backup and delivering specific services to members all over the country for which they get develo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

our case was also scrutinized during assessment year 2006-07 also and no addition was made during the year. Copy of assessment order and balance sheet is enclosed for your verification. That in our case we have incurred expenditure not for acquiring any right to operate services etc. but are the expenses paid to development centers providing localized Global E-Commerce Services to Card Holder and no new assets have been created of an enduring nature but expenses have been incurred for maintainin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ars also as under: 31.03.2003 31.03.2004 31.03.2005 31.03.2006 10000/- 85000/- 21980/- 9367/- 6. From operating and concluding part of the impugned order of the first appellate authority we note that the relief was granted with following conclusion: My findings: I have perused the written submission, grounds of appeal and facts of the case, I discussed the matter with the AR very carefully. The AO cannot understand the business activity of the appellant properly. The appellant was making cards, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version