TaxTMI 
TaxTMI 
2015 (5) TMI 1183
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....ankar Prasad, Jt. CIT(DR) For the Respondent : Shri V. Narendra Sharma, Advocate ORDER Per N.V. Vasudevan, Judicial Member This appeal by the revenue is against the order dated 13.8.2014 of the CIT(Appeals)-VI, Bangalore relating to A.Y. 2010-11. 2. The assessee is a company engaged in the business of acting as clearing and forwarding agents mainly in the Mangalore Port Trust (MPT). The ass....
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....refore, disallowed 20% of the expenditure on account of speed money, which resulted in an addition of Rs. 93,52,953 to the total income of the assessee. 3. On appeal by the assessee, the CIT(Appeals) following the decision rendered by the Tribunal in assessee's own case for A.Y. 2002-03 to 2009- 10, deleted the addition made by the AO. The CIT(Appeals), in particular, placed reliance on the deci....
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.... appeal and adjudication before a coordinate bench of this Tribunal in the assessee's own case for Assessment Year 2005-06. In the said order in ITA No.1209/Bang/2009 dt.30.6.2010, at para 5 on pages 4 & 5 thereof this Tribunal has upheld the CIT(Appeals)'s order deleting the disallowance on account of payment of speed money which is extracted and reads as under : "5. We have heard the riva....
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....ese facts we are also of the view that the decision of the Hon'ble jurisdictional High Court in the case CIT and another Vs. Konkan Marine Agencies reported in 323 ITR 308 on which the learned CIT (Appeals) had placed reliance squarely applies to the case in hand. The Hon'ble High Court held : "That taking into consideration the assessee's business and the prevailing practice in the....