TMI Blog2018 (11) TMI 1717X X X X Extracts X X X X X X X X Extracts X X X X ..... bank guarantee commission. It was further held that although it is termed as guarantee commission, it is not in the nature of commission- as is understood in the common business parlance and in context of section 194F of the Act. Respectfully following the order of the Coordinate Benches, we hold that since principal-agent relationship is a sine qua non for invoking provisions of section 194H, the Ld. Commissioner of Income Tax (A) was not justified in upholding the disallowance u/s 40(a)(ia) in respect of bank guarantee commission. - Appeal of the assessee is allowed. - ITA No. 4733/DEL/2015 - - - Dated:- 29-11-2018 - SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI KULDIP SINGH, JUDICIAL MEMBER For The Assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in assessee s own case for A.Y 2011-12. 4. The ld. DR fairly conceded to the same. 5. We have given thoughtful consideration to the orders of the authorities below. We find force in the contention of the ld. AR. These issues were considered by the co-ordinate bench in ITA No. 5687/DEL/2014 for A.Y 2011-12 vide order dated 27.04.2018. The relevant finding of the co-ordinate bench is as under: We have heard the rival submissions and perused the material available on record. We take up the assessee s appeal in ITA No. 5687/Del/2014 first. We find that the assessee s ground regarding disallowance u/s 40(a) (ia) with respect to the bank guarantee commission is squarely covered in the assessee by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Jindal Power Ltd. In ITA No. 99/Del/2012 has allowed CSR expenses in assessment year 2008-09. The Raipur Bench has further held that Explanation (2) to section 37 of the Act, inserted by Finance Act, 2012 has been brought into the Statute w.e.f. 1.4.2013 and this amendment is prospective in nature and accordingly prior to 1.4.2013, CSR expenses are revenue in nature and allowable. We have gone through the details of CSR expenditure incurred by the assessee during the year under consideration i.e. assessment year 2011-12 and we find that the expenses have been incurred in respect of tree plantation/environment protection, construction of Zoology Lab in Rourkela, construction of Special Wings for cerebral palsy children in Rourkela, medical c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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