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Zuari Agro Chemicals Ltd. Versus The Commissioner of Income Tax

2016 (9) TMI 253 - BOMBAY HIGH COURT

Expenses on travelling and retainer fees paid - Held that:- Mr. Toor, the learned counsel for the applicant-assessee very fairly states that the issue arising herein stands concluded against the applicant-assessee and in favour of the Respondent-Reve .....

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relief under Section 35D - the payment made after 31st March, 1970 to its promoters - Held that:- As decided in favour of assessee relying on own case for A.Y. 1975-76 [2012 (3) TMI 545 - BOMBAY HIGH COURT] - Income Tax Reference No. 107 of 1999 - Da .....

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vice by 22nd August, 2016. 2. By this Reference under Section 256 (1) of the Income Tax Act, 1961 (the Act) the Income Tax Appellate Tribunal (Tribunal) seeks our opinion on the following two substantial questions of law: (i) Whether on the facts and .....

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he assessee's income? (ii) Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the amount of ₹ 2,12,655/was not eligible for relief under Section 35D on the ground that the expenditure wa .....

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he applicant-assessee and in favour of the Respondent-Revenue by the decision of this Court in Commissioner of Income Tax v/s. J. K. Chemicals Ltd. 207 ITR 985 and Larsen & Toubro Ltd. v/s. Commissioner of Income Tax (2012) 75 DTR 30. (b) In the .....

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essee had claimed deduction of ₹ 2.12 lakhs under Section 35D of the Act being the payment made after 31st March, 1970 to its promoters. This payment to promoters was for the expenditure incurred by them for project development. This amount was .....

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rsed later. Thus not allowable in the subject Assessment Year. The Tribunal while upholding the order of the Assessing Officer and Commissioner of Income Tax (Appeals) relied upon its order for A.Y. 1975-76 on the same issue. The Tribunal while refer .....

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