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1 - 10 of 28 (0.26 seconds)C.I.T Central-Iii vs M/S Excel Industries Ltd on 8 October, 2013
58. We have heard the rival contentions of both the parties and
perused the material available on the record. As we have held while
disposing of previous grounds, the rate of tax has not changed for the
year under consideration and the subsequent assessment year and the
dispute raised by the revenue is clearly academic or at best may have
a minor tax effect as held by the Hon'ble Supreme court in case of Excel
Industries Ltd. (supra) and in case of Rajasthan State Industrial
Development & investment Corporation Ltd.(supra).
The Income Tax Act, 1961
Commissioner Of Income Tax Meerut & Anr. vs M/S Modi Xerox Ltd. on 6 August, 2012
(iii) CIT vs. Modi Xerox Ltd. (2012) 344 ITR 411 (All.)
Commissioner Of Income Tax vs Samtel Colour Limited on 6 February, 2009
(iv) CIT Vs. Samtel Colour Ltd. (2010) 326 ITR 425 (Del.) (HC)
In view of above, CIT(A) has rightly deleted the disallowance and the
ground of the department be dismissed.
The Commissioner Of Income Tax vs M/S Groz Beckert Asia Limited on 24 January, 2013
26. We have heard the rival contentions of both the parties and
perused the material available on the record. The Hon'ble Punjab &
Haryana High Court in the case of CIT Vs. Groz Beckert Asia Ltd (supra)
has held that corporate membership does not bring in the existence
an asset or an advantage for enduring benefit to the business. The
corporate membership was obtained for running the business. In light
of the said decision and other decisions of the Hon'ble High Court
quoted (supra) by the ld. AR, we confirm the order of the ld. CIT(A)
who has rightly held that the expenditure incurred on payments to
clubs is in the nature of business expenditure.
Banco Products (India) Ltd. vs Deputy Commissioner Of Income Tax on 28 May, 1997
(iii) Banco Products (India) Ltd. vs Dy. CIT 63 ITD 370(Ahd.):
Income-Tax Officer vs Ashoka Betelnut Co. (P.) Ltd. on 5 September, 1984
(iv) ITO vs Ashoka Betelnut Co. (P.) Ltd. 21 TTJ (Mad.) 465.
Bralco Metal Industries Pvt. Ltd. vs Commissioner Of Income-Tax on 2 September, 1993
The decision of Hon'ble Bombay High Court
in case of Bralco Metal Industries Pvt. Ltd.(supra) was brought to the
notice of Bench in support of the contention that the expenditure on
foreign travel of Managing Director to examine the suitability of
machinery for a running business is not capital in nature where no
machinery was purchased. In light of above, we set-aside the matter to
the file of the AO to examine where any new capital assets were
purchased by the assesse pursuant to foreign visits made during the
year under consideration. Whether it is found that no new capital
assets have been purchased by the assessee, the AO is directed to
allow the foreign travel expenditure as a revenue expenditure.
Commissioner Of Income-Tax, Bombay ... vs Globe Theatres Pvt. Ltd. on 12 March, 1978
(i) CIT Vs. Shah Theatres Pvt. Ltd. 169 ITR 499 (Raj.)
The CIT(A) in its order without distinguishing the case held that
the case law relied by the assessee is not applicable to the facts of the
case.