Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
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The ITAT allowed the appeal of the assessee. Disallowance under s.14A read with r.8D was deleted as assessee's own funds exceeded investments, permitting presumption investments were from own funds. Payments of commission were held not excessive and allowable. Additions under s.36(1)(iii) in respect of inter-company transactions were deleted as bona fide business dealings, not loans. Suo-moto disallowances made in the return under r.8D(2)(ii) and r.8D(2)(iii) were ordered deleted; r.8D(2)(iii) computations confined to investments yielding exempt income and AO directed to verify calculations. Advances to subsidiary/sister concerns held commercially expedient; AO directed to delete related interest disallowances.
The ITAT allowed the appeal of the assessee. Disallowance under s.14A read with r.8D was deleted as assessee's own funds exceeded investments, permitting presumption investments were from own funds. Payments of commission were held not excessive and allowable. Additions under s.36(1)(iii) in respect of inter-company transactions were deleted as bona fide business dealings, not loans. Suo-moto disallowances made in the return under r.8D(2)(ii) and r.8D(2)(iii) were ordered deleted; r.8D(2)(iii) computations confined to investments yielding exempt income and AO directed to verify calculations. Advances to subsidiary/sister concerns held commercially expedient; AO directed to delete related interest disallowances.
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