TMI Blog2014 (9) TMI 1057X X X X Extracts X X X X X X X X Extracts X X X X ..... s staff fraud - Held that:- Tribunal is correct in deleting the disallowance made by the Assessing Officer in respect of the expenditure claimed on the provision for staff frauds as an allowable business expenditure. - I.T.T.A No.566 of 2014 - - - Dated:- 4-9-2014 - <!--[if gte mso 9]> <![endif]--> <!--[if gte mso 9]> Normal 0 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e mso 10]> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax (Appeals) in allowing Broken Period interest claimed as expenditure by overlooking the Hon ble Supreme Court judgment in the case of Vijaya Bank Limited (187 ITR 541)? (b) Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the investments Held To Maturity (HTM) be treated as stock in trade and to delete the addition made on account o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the order under appeal reflects that insofar as the issue of broken period interest is concerned, the Tribunal followed the judgment of this Court in State Bank of Hyderabad v. Commissioner of Income Tax (151 ITR 703) and held that it is an allowable deduction. As regards the deduction towards staff fraud, the Tribunal followed the decision of the Amritsar Bench which, in turn, had followed t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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