TaxTMI 
TaxTMI 
2012 (9) TMI 545
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....ance of Rs. 1,14,017, being the employees contribution was paid before the due date of filing of the return. 3. For that the CIT(A) erred in confirming the addition of Rs. 1,01,000/- from repair and maintenance and Rs. 22,514/- from labour charges incurred for business purposes. 4. For that the CIT(A) erred in treating the income from interest on late payment of sale bills and miscellaneous income of Rs. 77,400/- as income from other sources thereby disallowing the deduction u/s 80IC when both the receipts arose directly from the undertaking. 5. For that the CIT(A) should have directed the Assessing Officer to allow claim u/s 80IC on the total income from industrial undertaking computed by the Assessing Officer as per provisions of the I....
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....rmed by Ld.CIT(A) being a covered matter. 5. The second issue contained in third ground relates to disallowance on account of nonpayment of TDS as per the provisions of section 40(a)(ia) of the Act with respect to Rs. 1,01,000/- and on account of labour charges of Rs. 22,514/-. It is the contention of the Ld.Counsel of the assessee that this issue is now squarely covered by special bench decision in Merilyn Shipping & Transport vs. ACIT (Vishakhapatnam) (SB) (2012) 136 ITD 23 and it was pleaded for deletion of impugned addition. 6. Ld.DR strongly opposed the move of the assessee by taking support from order of Assessing Officer has pleaded for confirmation of the impugned order by dismissing the ground of appeal. 7. After hearing both th....
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....undertaking or not. Therefore, addition has been rightly made by the Assessing Officer which has been correctly confirmed by the CIT(A) whose action be further confirmed. 10. We have heard both the sides and considered the material on record and find that in view of precedents relied upon by the Ld.Counsel for the assessee, we are of the view that the assessee is entitled to the relief with respect of deduction u/s 80IC of the Act in relation to interest on late payment of bills, but in the absence of details of miscellaneous income, such relief could not be granted to the assessee in this regard. As such while allowing appeal with respect to interest on late payment of sale bills, assessee would be entitled to deduction u/s 80IC of the Ac....