TaxTMI 
TaxTMI 
2019 (9) TMI 540
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....of the Act. 2. The appeal was filed by the assessee with a delay of 24 days. The Ld.AR submitted before us that the assessee had filed miscellaneous petition before the Ld.CIT(A) to rectify certain mistake in his order and was of the firm belief that the issue would be resolved in favour of the assessee at the first appellate authority stage itself. But the said miscellaneous petition has not been disposed off. Subsequently the assessee's counsel advised to file the appeal before the Tribunal. Hence the delay had occurred. Therefore the Ld. AR pleaded that the delay in filing the appeal may be condoned. The Ld. DR strongly objected to the submission of the Ld. AR. After hearing both sides though we do not appreciate the lapse on the part....
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.... total income of Rs. 13,03,150/-. Initially the return was processed U/s.143(1) of the Act on 15.12.2014. Subsequently the case was selected for scrutiny and notice U/s.143(2) & 142(1) of the Act was issued on 18.09.2015 & 06.06.2016. Finally assessment was completed U/s.143(3) of the Act on 30.12.2016 wherein the Ld.AO made several additions. 4. Ground No.3(i) : Disallowance of 50% depreciation, interest, loan processing charges, life tax & insurance on the car acquired by the firm in the name of the partner aggregating to Rs. 22,48,934/-:- During the course of scrutiny assessment proceedings, it was observed by the Ld.AO that the assessee firm had claimed deduction towards the car owned by the partner of the firm as detailed herein ....
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....ish Transport Corporation in 185 ITR 669 the Hon'ble Kerala High Court had held that "for the transfer of ownership of the motor vehicle, mutation of the name in the certificate of registration was not necessary and the vehicle could be sold and purchased without following the procedure prescribed under Section 31 of the Motor Vehicles Act. The assessees were the owners of the vehicles and they used them in their business and, therefore, they were entitled to depreciation on them." Similar view was also expressed by the Hon'ble Allahabad High Court in the case CIT Vs. Navdurga Transport Company reported in 235 ITR 158. Therefore we hereby direct the Ld.AO to verify whether the car is acquired from the resource of the firm or the purchase co....
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.... the picture on Sunday night itself; however the same was recorded in the books of accounts on the subsequent day as cash paid. It was therefore explained that as per Rule 6DD.2(j) (The excluded situations) where the payments are required to be made on a day on which the banks are closed provisions of Section 40A(3) cannot be invoked. However both the Revenue Authorities rejected the above submission of the Ld.AR. After perusing the facts of the case and hearing both sides, we find merit in the explanation tendered by the Ld.AR. It is the practice in the business to hand over the collection as soon as the film is screened. Therefore the assessee is forced to pay the amount collected from the theatres on Sunday night itself after screenin....
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....thorities on this issue as pointed out by the Ld.AR. Explanation 2(v) of Section 9(1)(v) of the Act provides as under:- "(v) the transfer of all or any rights (including the granting of a licence) in respect of any copyright, literary, artistic or scientific work including films or video tapes for use in connection with television or tapes for use in connection with radio broadcasting but not including consideration for the sale, distribution or exhibition of cinematographic films; or Thus Explanation 2(v) of Section 9(1)(v) of the Act makes it abundantly clear that consideration towards sale, distribution or exhibition of cinematography films does not fall within the ambit of royalty. In the case of the assessee it is eviden....