Department by making adjustment with regard
to the value of IT cost allocation.
3. It was further submitted by learned AR that in the immediately ... other addition pertains to disallowance of expenses of Chennai
Special Economic Zone Unit and adhoc disallowance of depreciation of
Chennai SEZ Unit
developer-cum-builder engaged in development of real estate
including special economic zone (SEZ). The expenses which were directly
related to the construction / development ... incurred in the normal course of the business
which are not directly allocable to a particular project should be allowed as
business expenses
unable to countenance the view canvassed by the Id. AR that
the allocated expenses of the NRI Desk should also assume the character
of exclusive ... provisions is their exclusive or non-exclusive nature. If these are
shared/allocated/apportioned/non-exclusive head office expenses, then
they will find their residence
Exemption).
6) Mr. Sanjay P. Walimbe was then transferred to Kolhapur Zone on
promotion in April, 2011 and no new dedicated officer was appointed ... Some where in October, 2011, Mrs. Manisha Bhide, an officer was
allocated to look after trust affairs over and above her usual office
work
Goldman Sachs & Co, Mumbai vs Dcit (It)-2(3)(2), Mumbai on 8 May
order as the appellant
failed to give any cogent reason for the allocation made
by it. The addition made by the learned AO is accordingly ... directly allocated to
the project as per the loans obtained. The expenditure other than
the interest of Head Office was allocated on the basis
accorded in principal approval to the Company to set up
Special Economic Zone (SEZ) at Khopta, district Raigad in
Maharashtra vide its letter dated ... Loss account was
prepared by the company as its Special Economic Zone Projects
were under development and the expenditure (including capital
work in progress) during
unit @ 20.27% of said sales of Rs.42,83,757/-.
ii. Allocation of common expenditure to SEZ Unit at the revised
ratio ... assessee and after referring
to the various provisions contained under Special Economic Zone
Act, 2005 and the provisions of Section 10AA r.w. Explanation
engaged in the business of setting up and developing special economic zone
project in the state of Maharashtra and accordingly incorporated Navi Mumbai ... during the period are
classified as "Project Development Expenditure" pending allocation and will be
apportioned to the assets on completion of the project
Zone Services Ltd.
Assessment Year :2008-09
explanation against various queries raised by Ld. TPO. The copies of
agreement / terms of arrangement and cost allocation
