TMI Blog2018 (10) TMI 610X X X X Extracts X X X X X X X X Extracts X X X X ..... xpenses. Appeal admitted. - R/TAX APPEAL NO. 983 of 2018 - - - Dated:- 4-9-2018 - MR AKIL KURESHI AND MR B.N. KARIA, JJ. For The Petitioner (s) : MR.VARUN K.PATEL (3802) For The Respondent (s) : MR B S SOPARKAR (6851) ORAL ORDER ( PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Tax Appeal is ADMITTED for consideration of following substantial questions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer was justified in making the transfer pricing adjustment of ₹ 21,90,400/towards Corporate Guarantee fee? ( 3) Whether on the facts and in circumstances of the case, the learned ITAT has erred in law and on facts in deleting the disallowance of expenses incurred by the assessee on behalf of M/s.Sun Pharmaceutical Industries of which the assessee is a partner, with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dition made on account of Foreign Exchange fluctuation gain by considering it as revenue receipt instead of capital receipt claimed by the assessee? ( 3) Whether on the facts and in circumstances of the case, the learned ITAT has erred in law and on facts innot setting aside the relief given by the CIT (A) on the issue of disallowance of R D expenditure after excluding export turnover for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... keeping the question open. We further notice that in this very question, the expenditure in relation to lunch and refreshments was considered by this Hon'ble Court in Tax Appeal No.317 of 2018 and such question was not considered. 4. So far as question( 2) is concerned, the same was examined by this Hon'ble Court in Tax Appeal No.312 of 2018 and not entertained. 5. Questions( 3) and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is fact based. In this respect, no question of law arises. 6. Revenue's objection seems to be twofold. Firstly, that such expenditure was incurred by the assessee for and on behalf of the partnership firm and therefore it was not for the purpose of assessee's business. The second objection was with respect to correlation of such expenditure for setting up inhouse R D facilities. The Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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