TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Appeal under Income Tax Act dismissed for aircraft flying charges & retainership fees</h1> <h3>Commissioner Of Income Tax, Kol-IV, Kolkata Versus Phillips Carbon Black Limited</h3> Commissioner Of Income Tax, Kol-IV, Kolkata Versus Phillips Carbon Black Limited - TMI Issues:1. Addition of aircraft flying charges paid to M/s. Spencer Travel Service Ltd.2. Deletion of addition on expenditure towards retainership fees paid to M/s. Sree Bala Pvt. Ltd.Analysis:Issue 1: Addition of Aircraft Flying ChargesThe High Court addressed the first issue concerning the addition made by the Assessing Officer on account of aircraft flying charges paid to M/s. Spencer Travel Service Ltd. The Court mentioned that this issue does not require adjudication as per their decision in a related matter, indicating that the matter has been resolved in a previous judgment (ITAT No. 31 of 2014, G.A. No. 1382 of 2014).Issue 2: Deletion of Addition on Retainership FeesRegarding the second issue of deletion of addition on expenditure towards retainership fees paid to M/s. Sree Bala Pvt. Ltd., the Court noted that the advocate for the revenue, Mrs. Chatterjee, expressed having no instructions on the matter. Consequently, the Court inferred that the revenue is not interested in pursuing this question for adjudication. As a result, the Court dismissed the application and appeal without any order as to costs.In conclusion, the High Court dismissed the appeal filed under section 260A of the Income Tax Act, 1961 against the order passed by the Income Tax Appellate Tribunal. The Court did not address the first issue related to aircraft flying charges due to a previous judgment and dismissed the second issue concerning retainership fees as the revenue showed no interest in pursuing it.
TaxTMI 