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1 - 10 of 11 (0.25 seconds)Section 92E in The Income Tax Act, 1961 [Entire Act]
Commnr. Of Income Tax, Indore vs Pawan Kumar Laddha on 6 April, 2010
secs. (2A) and (2B) by the doctrine of
incorporation. Our view is fortified by the
judgment of the Hon'ble Supreme Court in the
case of CIT Vs. Pawan Kumar Laddha [(2010)
324ITR 324 (SC)) .
Lg Electronics India (P) Ltd., New Delhi vs Acit, Noida on 18 July, 2018
29. We find that the Special Bench of the Tribunal (majority
view) in M/s L.G. Electronics India (P) Ltd. Vs. ACIT (supra)
held that the expenses in connection with the sales do not
lead to brand promotion and thus cannot be brought within
the ambit of advertisement, marketing and promotion
expenses for determining the cost/value of the international
transaction. In view thereof, we direct the Assessing officer
to exclude the expenses incurred by the assessee in
connection with the sales totaling Rs. 5500.86 lacs as the
same do not fall within the ambit of AMP expenses and
hence not to be considered for computing the cost/ value of
international transaction. The assessee vide ground no. 4
had raised the issue against disallowance of consumer
market research expenses of Rs. 567.49 lacs. In view of our
decisions in allowing the claim of the assessee being
relatable to sales promotion expenses, this ground of
appeal is thus allowed."
M/S Madras Industrial ... vs The Commissioner Of Income Tax,Tamil ... on 4 April, 1997
Ld.
Commissioner of Income Tax (A) again allowed the
appeal of assessee and grant the deduction of the total
expenses. Appeal to the Tribunal by the Revenue was
dismissed. Revenue carried the matter in appeal before
the Hon'ble High Court. The Hon'ble High Court relying
upon the decision of Hon'ble Supreme Court in the case
of Madras Industrial Investment Corp. Ltd. vs. C.I.T. 225
ITR 802 has dismissed the appeal of the Revenue.
Hon'ble High Court has observed that revenue
expenditure which is incurred and exclusively for the
purpose of business must be allowed in its entirety in
the year in which it is incurred. It cannot be spread
over a number of years even if the assessee has written
it off in his books over a period of years.
Commissioner Of Income Tax vs Jai Parabolic Springs Ltd. on 7 April, 2008
11. On Revenue's Appeal in this regard the Hon'ble Jurisdictional High
Court in I.T.A. No. 956 of 2010 held that "it is very fairly agreed to by
the Ld. Counsel for the parties that the controversy is covered by the
decision of the C.I.T. vs. Jai Parabolic Springs Ltd. (2008) 306 ITR 42
(Delhi) whereby the appeal preferred by the revenue has been
dismissed." . Considering the same, the Hon'ble Jurisdictional High
Court held that the present appeal stands dismissed.
Finance Act, 2012
Section 92B in The Income Tax Act, 1961 [Entire Act]
Lg Electronics Inc., Korea (Lgek), ... vs Dcit, Circle- 2(2)(1), International ... on 2 September, 2019
6.4 From the above, we find that the Tribunal in the case of Canon
India Pvt. Ltd. vs. DCIT (Supra) and Glaxo Smitkline Consumer
Healthcare Ltd. (Supra) has considered the Special Bench decision in
LG Electronics (Supra). Respectfully following the Special Bench
decision the legal grounds were decided against the assessee and as a
consequence thereof the relevant ground raised in the memo of appeal,
touching the legal grounds were dismissed. Following the same ratio,
we also dismiss the legal grounds raised by the assessee in the memo
of appeal.