TaxTMI 
TaxTMI 
2017 (2) TMI 1336
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....and on facts in deleting the addition of Rs. 1,51,61,188/- made by the AO on account of commission paid to Managing Director and whole-time director u/s 36(l)(ii) of the Income Tax Act, 1961" 2. "On the facts and circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition on account of foreign travelling expenses made by the AO by treating the same as personal in nature." 3. "On the facts and circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 6,76,6557- made by the AO on account of being Credit balance written off". 4. "The appellant craves to amend modify, alter, add or forego any ground of appeal at any time before or durin....
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....eld personal in nature Credit balance written back 74,943 Written back trading liability is the deemed income u/s 41(1) Out of HRA paid to 3,00,000 Held as excessive u/s 40A(2)(b) Managing Director 3. Aggrieved by order of Assessing Officer assessee preferred an appeal before Ld. CIT(A). Ld. CIT(A) deleted the addition made by AO in respect of the commission paid to the managing director, travel expenses incurred by assessee and the credit balance that was written off in the profit and loss ITA no. 917/Del/2014 (AY 2010-11) account. However, Ld. CIT(A) confirmed the addition on account of HRA paid to the managing director as excessive in nature. Aggrieved by the order passed by Ld. CIT(A) assessee as well as revenue is in appeal befor....
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.... on the contrary relied upon the order passed by assessing officer. 6. We have perused the submissions advanced by both the sides in the light of the documents placed on record. 7. It is observed that it is in assessee's own case accountable High Court has allowed the commission paid to the managing director for the services rendered as per the terms of the employment. As the revenue has not brought any distinguishing factor to deviate from the decision of Hon'ble High Court, respectfully following the same we dismiss ground No. 1 raised by revenue. 8. In respect of the addition that has been deleted by Ld. CIT(A) made on account of foreign travelling expenses treating the same as personal in nature. 9. Ld. DR relied upo....
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....to travel of all directors along with the bills and vouchers and passports have been tendered before Ld. ITA no. 917/Del/2014 (AY 2010-11) CIT (A). Ld. CIT(A) on verification of the details have observed that none of the family members has been accompanying directors. There has been no contrary evidence is that has been brought on record by Ld. AO regarding any personal touch to the foreign travel expenses. It appears that Ld. AO without there being cogent material has made addition on mere surmises. Accordingly, we are inclined to uphold the findings of Ld. CIT(A). In the result the ground raised by the revenue stands dismissed 14. This ground has been raised by the revenue against the addition being deleted in respect of the cred....
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....008-09 and 2009-10 in assessee's own case in ITA No. 3255/Del/2011 with CO No. 234/Del/2011 and 5362/Del/2012 respectively, has allowed the claim of the assessee. This Tribunal has observed as under: "11. We have carefully considered the submissions of both the sides and perused the material placed before us. So far as the addition for cessation of liability is concerned, we are of the opinion that the assessee itself has considered the cessation of liability as its income. Therefore, no further addition can be made. So far as allowability of bad debts is concerned, Hon'ble Apex Court in the case of T.R.F. Limited (supra) held as under:- ITA no. 917/Del/2014 (AY 2010-11) "After the amendment of section 36(1)(vii) o....
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....y, ground raised by revenue stands dismissed. ITA no. 917/Del/2014 (AY 2010-11) In the result appeal filed by the revenue stands dismissed. ITA No. 650/del/2014 (assessee's appeal) 20. The only ground raised by assessee is in respect of disallowance upheld by Ld. CIT(A) in respect of HRA paid to the Managing Director as excessive in nature. 21. Ld. AR submitted that this addition has been made by Assessing Officer for the first-time under section 40A(2)(a) of the Act. Ld. AR submitted that HRA remunerated to directors, is inclusive of the package structure. It has been submitted that as assessee has not provided residential accommodation to its managing director instead it pays 60% of the basic salary as HRA, keeping in view....