TMI Blog2017 (8) TMI 1415X X X X Extracts X X X X X X X X Extracts X X X X ..... he aircraft payable by the assessee and tax at source has to be deducted on the same - Tribunal set aside disallowance - Held that:- Tribunal has considered that the assessee had entered into an agreement to avail flying hours with Taj Air. The assessee has assigned these rights of flying hours to Tata Motors Ltd. The credit note was issued to the assessee for sum of ₹ 14.95 lakhs towards va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2010), 328 ITR 082 (Bom.), when the Hon'ble Supreme Court has not adjudicated on Godrej Boyce Mfg. Ltd. under Article 141 of the Constitution of India? (2) Whether on the facts and in the circumstances of the case and in law, the Hon'ble High Court was correct in law in setting aside the disallowance u/s 14A of the I.T. Act, 1961 by relying on the decision of the Hon'ble Bomb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent? (4) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the disallowance u/s 40(a)(ia) without appreciating the fact that the amount of ₹ 14,95,000/represents variable cost portion of the lease of the aircraft payable by the assessee and tax at source has to be deducted on the same? 3. So far as ground nos. 1, 2 and 3 a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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