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 →

CIT-2 Versus Bharti Hexacom Ltd.

2016 (12) TMI 1543 - DELHI HIGH COURT

Applicability of Section 35ABB vis-a-vis spectrum charges paid by the assessee - charges paid after the change in the telecom policy in 1999 - Held that:- The question of law sought to be urged is squarely covered by the previous decision of this Court in the assessee’s case for another assessment year CIT v. Bharti Hexacom Ltd.(2013 (12) TMI 1115 - DELHI HIGH COURT ). Therefore, this question cannot be framed and is answered against the revenue. - Treatment by the assessee in its books of a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ified that the expenditure was essentially revenue in character. No question of law arises - ITA 799/2016, CM APPL.42006 & 42007/2016 - Dated:- 22-11-2016 - S. Ravindra Bhat And Najmi Waziri, JJ. For the Appellant : Mr. P. Roychoudhuri, Sr. Standing Counsel For the Respondent : Mr. Vaibhav Kulkarni, Advocate ORDER Two questions are urged by the revenue in this appeal against the ITAT s decision. The first relates to applicability of Section 35ABB vis-a-vis spectrum charges paid by the assessee. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

for use of its software and equipments should have been amortized or the assessee permitted to claim that they were revenue expenses. The findings recorded after the examination of the documents and related agreements by the ITAT are reproduced below: - 82. We have considered the submissions of both the parties. The assessee has clearly explained that in order to comply with the mandate of AS 19 it had capitalized the assets taken on lease from IBM but while computing the income, the amounts we .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ee had complied with the requirement of AS 19 and, accordingly, charged depreciation on the asset treating the whole transaction as capital in nature, could not disentitle the assessee to claim the expenditure in computation of income on the basis of true nature of the transaction. It is well settled law that a particular mode of recording a transaction in books of ale is of little consequence and the substance of the transaction has to be considered to arrive at proper conclusion. 84. Ld. CIT ( .....

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