Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed. The Tribunal concurred with CIT(A)'s disallowance rate of 15% and rejected Revenue's contention to restore 100% disallowance. Regarding commission expenses of INR 8,81,3000/-, the Tribunal upheld CIT(A)'s deletion in the absence of material to substantiate the allegation of 1% commission payment. CIT(A) correctly allowed the claim of deduction u/s 80-IA based on the Assessing Officer's remand report. Concerning disallowance u/s 14A, the Tribunal upheld CIT(A)'s findings as the assessee had suo moto disallowed a higher amount of 1% of average investment as administrative expenses compared to the Assessing Officer's disallowance of 0.5%. The Tribunal dismissed the Revenue's grounds on all issues.
CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed. The Tribunal concurred with CIT(A)'s disallowance rate of 15% and rejected Revenue's contention to restore 100% disallowance. Regarding commission expenses of INR 8,81,3000/-, the Tribunal upheld CIT(A)'s deletion in the absence of material to substantiate the allegation of 1% commission payment. CIT(A) correctly allowed the claim of deduction u/s 80-IA based on the Assessing Officer's remand report. Concerning disallowance u/s 14A, the Tribunal upheld CIT(A)'s findings as the assessee had suo moto disallowed a higher amount of 1% of average investment as administrative expenses compared to the Assessing Officer's disallowance of 0.5%. The Tribunal dismissed the Revenue's grounds on all issues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
