TaxTMI 
TaxTMI 
2021 (1) TMI 1244
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....n following grounds of appeal: 1. The Ld.CIT(A) has erred in law and on facts in restricting the disallowance U/S.14A r.w. Rule 8D of the Act to Rs. 2,58,225/- as against Rs. 75,63,804/- without properly appreciating the facts of the case and the material brought on record. 2. The Ld.CIT(A) has erred in law and on facts in deleting the late delivery charges of Rs. 1,65,067/- without properly appreciating the facts of the case and the material brought on record. 3. The Ld.CIT(A) has erred in law and on facts in deleting the disallowance of foreign commission amounting to Rs. 1,76,08,320/- without properly appreciating the facts of the case and the material brought on record. 4. On the facts and in the circumstances of the case, the L....
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....here is only Rs. 10112344/( as per role no 24 there is interest income of Rs. 44478891 whereas the Interest coest as per the P and L tile is Rs. 54591235) i.e. due to this interest disallowance will be less than 25% of the amount what we have given the working earlier. Further disallowance for the interest free advance to 100% foreign subsidiary will also be similar to this one i. e. less than 25% of what the working has been given. It is also pertinent to note that there was no bank limits available at the end of the year. The contention of the assesse is not found acceptable. Since the assessee's accounts does not give the correctness of claim of expenditure made by the assessee in respect of expenses related to earning exempt incom....
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....ld. A,.O. has made disallowance of Rs. 75,63,804/- u/s. 14A r.w.r. 8D. 8. On the other hand, Ld. CIT(A) has mentioned in his order that issue is covered by the decision given by his office in appellant own case for A.Y. 2012-13 vide Appellate Order No. CIT(A)-2/400/DCIT, Cir. 2(1)(1)/2014-15 dated 25/01/2016 wherein he has restricted the confirmed exempt income of the assesse. 9. In our considered opinion, we do not find any infirmity in the order passed by the Ld. CIT(A). Hence, we confirm the order of the ld. CIT(A) and same does not require any kind of interference at our end. 10. In the result, this ground of Revenue is dismissed. 11. Now we come to next ground relating to late delivery charges. 12. During the year under considerat....
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....peal before the ld. CIT(A) who granted relief to the assesse. 16. Now revenue has come before us by way of second statutory appeal. 17. So far deletion of addition of late delivery charges are concerned, similar addition was deleted in assessee's own case in A.Y. 2010-11 & 2011-12 by the Ld. CIT(A) and Co-ordinate Bench has dismissed the revenue's appeal in ITA No. 154/Ahd/2015 with following observation: "15. We have carefully considered the orders of the authorities below. There is no dispute that apportion of the sale consideration was retained by the payees on account of /ate delivery of the machineries and as per the terms of contract, the assessee had to compensate the customers if it fails to deliver the goods on time. There is n....
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....ll the services rendered by them related to the export made by the assesse outside India. There was no permanent establishment/office of these agents or any infrastructure situated in India. These agents have carried out all their activities outside India and commission was paid for the activities carried out side India. Section 195 is applicable only if the payments made to non-residents are chargeable to tax. If the payment is not chargeable to tax under the act, the payer would not be liable to deduct tax at source under the act. Section 4 of the act provides that income tax shall be charged for a particular year in accordance with the provision of the act. Section 5 of the act deals with the scope of the total income of the non-reside....