TaxTMI 
TaxTMI 
2020 (4) TMI 96
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.... the assessee u/s 80IC of the Income Tax Act, 1961. 2. The learned authorities below have further erred in law as well as in facts in making additions of Rs. 28,67,000/- in the declared income of assessee on account of disallowance of business promotion expenses claimed by the assessee, which were incurred in the normal course of his business activities." 3. In this case return was e-filed by the assessee on 14/07/2012 declaring total income of Rs. 12,150/- in which the Assessment u/s 143(3) of the Income Tax Act, 1961 was completed at total income of Rs. 84,47,000/- after disallowing deduction u/s 80IC and commission paid by the assessee. 4. Before us the assessee filed appeal against confirmation of the disallowance u/s 80I....
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.... Copy of License to manufacture Bio-Pesticides from Department of Agriculture Uttarakhand under Plant Protection Centre vide letter dated 12th May, 2010. (vii) Audit Report from Assistant Commissioner (Audit) under Customs & Central Excise Commissionrate Meerut in which it is mentioned that assessee is engaged in the manufacturing of Bio-Pesticides." 8. The ld. CIT (A) held that the entry no. 15 of the part B of Schedule XIII includes "insecticides, fungicides, herbicides and pesticides" and since the assessee was manufacturing the article which is mentioned in the prohibited list, he was not entitled for deduction u/s 80IC. 9. The ld. CIT (A) has gone through all the certificates produced by the assessee and examined with re....
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....ered under Schedule-XIII." 10. The product manufactured by the assessee as per the license of manufacturing issued by the authorities is a Fungicide namely, "Trichoderma Viride". This product of Fungicides is also a prohibited item covered under Item no. 15 of Schedule XIII part B of the I.T. Act. Thus, the ld. CIT (A) after examination of the certificates issued by SIIDC, UEPPCB, TNAU, AC Customs & Central Excise, the product manufactured (Trichoderma Viride) and after examining whether this product is eligible or prohibited item, gave a categorical finding that the product manufactured by the assessee is a Fungicide which is a prohibited item for the claim of deduction and accordingly denied the deduction u/s 80IC. 11. Having gone t....
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....ts for M/s Shri Sai Agrotech was signed by Sh. Suresh Pathak who was the proprietor, while the confirmation has been given by Smt. Jyoti Pathak. In fact the PAN furnished by the assessee also is in the name of Jyoti Pathak. Since she was not the signatory in the agreement nor proprietor, the confirmation given by her does no t prove the genuineness of the agreement. However, it is interesting to note that both the agreements do not make any mention of the consideration to be paid for rendering the service mentioned in the contract. No contract can be complete without any consideration. Apparently, these two documents therefore are a facade created by the assessee to make the department believe that the payment of commission was genuine. The....