Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: cpt :: VAT Audit :: empanelment :: ACCOUNTING STANDARD :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment
 
 
From the Courts »
 Ambuja Cements Ltd. Vs. Commissioner, Service Tax Commissionerate, Delhi
 Director Of Income Tax (Exemptions) Vs. Vishwa Hindu Parishad
 ITAT Proposes Important Changes To Tribunal Rules
 Meherjee Cassinath Holdings Pvt. Ltd vs. ACIT (ITAT Mumbai)
  CIT vs. Pashupati Nath Agro Food Products Pvt. Ltd (Allahabad High Court)
  Raj Dadarkar & Associates vs. ACIT (Supreme Court)
 CST vs. Sunil Haribhau Pote (Bombay High Court)
 CIT vs. Pashupati Nath Agro Food Products Pvt. Ltd (Allahabad High Court)
 State Of Jharkhand vs. Lalu Prasad Yadav (Supreme Court)
 Raj Dadarkar & Associates vs. ACIT (Supreme Court)
 Hyundai Motor India Limited vs. DCIT (ITAT Chennai)

DCIT, Circle 12(1),New Delhi 34 Vs. Hero Fin Corp Ltd.,Community Centre,GIR Vasant Lok, New Delhi
June, 20th 2014
           IN THE INCOME TAX APPELLATE TRIBUNAL
                (DELHI BENCH `C ', NEW DELHI)

       BEFORE SHRI R. P. TOLANI, JUDICIAL MEMBER AND
            SHRI T.S. KAPOOR, ACCOUNTANT MEMBER
                       I.T.A. No.5518 /Del/2013
                       Assessment year : 2010-11
DCIT, Circle 12(1),                Vs. Hero Fin Corp Ltd.,
New Delhi                                 34, Community Centre,
GIR / PAN:AAACH157J                       Vasant Lok, New Delhi
         (Appellant)                      (Respondent)

             Appellant by :     Shri Satpal Singh, Sr. DR
             Respondent by :    Shri Ajay Vohra, Ms. Priyanka Jain, Adv.

                                       ORDER
PER T.S. KAPOOR, AM:
      This appeal is filed by the Revenue against order of Ld. CIT(A) ­ XV,
New Delhi dated 23rd July 2013 for the assessment year 2010-11. The only
issue raised in this appeal is regarding grievance of the Revenue by which
Ld. CIT(A) had deleted the commission payable to Director u/s 36(1)(ii) of
the Act.




2.    At the outset, Ld. A.R. submitted that this issue is covered in favour
of the assessee by the order of the Tribunal in the case of the assessee itself
wherein, the commission was paid to the same Director and the Tribunal had
decided the issue in its favour. In this respect, our attention was invited to
the paper book pages 12-13 where a copy of the order of the Tribunal in
I.T.A.No. 4329/Del/2010 pronounced on 27th April 2012 was placed. Our
attention was invited to the relevant para 25 of the said order wherein the
Tribunal had dealt with the issue. Our attention was also invited to the paper
book pages 1-7 wherein ITAT had followed the order of Tribunal in
                                        2                ITA No5518/Del/2013


I.T.A.No. 4329/Del/2010 dated 27.04.2012. It was submitted that since the
issue involved is similar, therefore, it is a covered mater.

3.    Ld. D.R. fairly conceded with the contention of the Ld. A.R.

4.    We have heard rival parties and have gone through the material on
record.   We find that the issue is regarding payment of commission
amounting to Rs.24 lacs to Smt. Renu Munjal, director of the company. The
Assessing Officer had made disallowance u/s 36(1)(ii) of the Act. However,
we observe that ITAT had given relief to the assessee on similar issue in
assessment year 2005-06, 2007-08, 2008-09 and 2009-10. Since the issue is
similar, respectfully following the order of the tribunal in I.T.A.No.
4329/Del/2010 dated 27th April 2012, we dismiss the appeal of the revenue.




5.    In view of the above, appeal filed by ht Revenue is dismissed.

6.    Order pronounced in the open court on 18th June, 2014.
      Sd./-                                                          Sd./-
 (R. P. TOLANI )                               (T.S. KAPOOR)
JUDICIAL MEMBER                        ACCOUNTANT MEMBER
Date: June, 2014
Sp
Copy forwarded to:-
   1. The appellant
   2. The respondent
   3. The CIT
   4. The CIT (A)-, New Delhi.
   5. The DR, ITAT, Loknayak Bhawan, Khan Market, New Delhi.
True copy.
                                                    By Order


                                                               (ITAT, New Delhi).
                                 3   ITA No5518/Del/2013




Date of hearing

Date of Dictation

Date of Typing

Date of order signed by
both the Members &
pronouncement.

Date of order uploaded on net
& sent to the Bench concerned.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions