https://www.taxtmi.com/caselaws?id=312805 ITAT Mumbai dismissed revenue's appeal on corporate guarantee commission, confirming CIT(A)'s deletion of 0.80% addition following consistent precedent from assessee's own case for AY 2006-07 upheld by Bombay HC. Appeal also dismissed on comfort letter service charge addition, following coordinate bench decisions. Section 35(2AB) R&D expenditure claim remanded to AO for verification. Television advertisement expenditure confirmed as revenue expenditure. Section 14A disallowance dismissed due to AO's failure to record proper satisfaction. Additional depreciation at 10% allowed following precedent. TDS under Section 194H dismissed as payments were to travel agencies, not dealers. Buyback of shares matter remanded to TPO for fresh determination of arm's length price with proper valuation support. Dividend distribution tax refund claim remanded to AO with directions for complete documentation. en-us Wed, 23 Feb 2022 00:00:00 +0530 Wed, 18 Dec 2024 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312805 ITAT Mumbai dismissed revenue's appeal on corporate guarantee commission, confirming CIT(A)'s deletion of 0.80% addition following consistent precedent from assessee's own case for AY 2006-07 upheld by Bombay HC. Appeal also dismissed on comfort letter service charge addition, following coordinate bench decisions. Section 35(2AB) R&D expenditure claim remanded to AO for verification. Television advertisement expenditure confirmed as revenue expenditure. Section 14A disallowance dismissed due to AO's failure to record proper satisfaction. Additional depreciation at 10% allowed following precedent. TDS under Section 194H dismissed as payments were to travel agencies, not dealers. Buyback of shares matter remanded to TPO for fresh determination of arm's length price with proper valuation support. Dividend distribution tax refund claim remanded to AO with directions for complete documentation. Case-Laws Income Tax Wed, 23 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312805