2016 (10) TMI 413

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....tified in holding that the share issue expenses incurred or raising capital for purchase of plant and machinery should be capitalized and depreciation be allowed on the same? (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was correct in holding that the entire expenditure incurred on purchase of consumables like diesel, oil and coal is to be allowed as business expenditure even if the entire purchases are not actually consumed during the relevant previous year? (iii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the advance license receivable by the assessee is to be taxed in the year in which the benefits actually a....

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....he entire dividend income received, without appreciating the fact that the assessee has been maintaining a common P&L account in respect of all sources of income and all types of expenditure and, therefore, the expenses incurred / attributable to the exempt income can only be estimated? (viii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the payments made to Glaxo Sports Club do not fall within the purview of Section 40A(9) of the Income Tax Act? (ix) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing the Assessing Officer to consider the disallowance made by him as part of profit of eligible unit on p....

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....stions do not give rise to any substantial question of law before this Court. Accordingly, these questions are not entertained. 3. Re. question (iii) : (a) Mr. Suresh Kumar, learned Counsel appearing for the revenue very fairly states that the issue now stands concluded by the decision of the Apex Court in Commissioner of Income Tax Vs. Excel Industries Ltd. (2013) 38, taxmann.com 100 (SC). (b) In the above view, question as raised does not give rise to any substantial question of law. Thus, not entertained. 4. Re. question (iv) : (a) Mr. Suresh Kumar, learned Counsel for the revenue very fairly states that the revenue on identical issue had preferred an appeal to this Court from the order of the Tribunal for A.Y. 1996-97 bei....