Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd
 
 
From the Courts »
 Pr. Commissioner Of Income Tax Vs. B. C. Management Services Pvt. Ltd.
 Commissioner Of Income Tax Vs. M/s International Tractor Ltd.
 Maharaj Garage & Company vs. CIT (Bombay High Court)
 Amira Pure Foods Pvt. Ltd vs. Pr CIT (ITAT Delhi)
 Hindustan Coca Cola Beverages Pvt. Ltd vs. CIT (Rajasthan High Court)
 Pr CIT vs. Baisetty Revathi (Andhra Pradesh High Court)
  Pr CIT vs. Paradise Inland Shipping Pvt. Ltd (Bombay High Court)
 Ambience Hospitality Pvt. Ltd vs. DCIT (Delhi High Court)
 DCIT vs. Studio Aethletic Health & Hospitality Pvt. Ltd (ITAT Mumbai)
 Nilesh Janardan Thakur vs. ITO (ITAT Mumbai)
 Pr CIT vs. Paradise Inland Shipping Pvt. Ltd (Bombay High Court)

M/s. Ushdev International Limited New Harileela House,6th Floor, Mint Road,Mumbai-400 001 Vs. DCIT 2(3)Aaykar Bhavan, Tapal No.555,M. K. Road, Mumbai
July, 02nd 2012
                                                    M/s. Ushdev International Limited
                                                                I.T.A. No. 6441/M/2010


                 IN THE INCOME TAX APPELLATE TRIBUNAL
                      MUMBAI BENCH `F', MUMBAI

      BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER &
              SHRI VIVEK VARMA, JUDICIAL MEMBER

                       I.T.A. NO. 6441/Mum/2010
                       Assessment Year : 2004-05

M/s. Ushdev International Limited    Vs. DCIT 2(3)
New Harileela House,                     Aaykar Bhavan, Tapal No.555,
6th Floor, Mint Road,                    M. K. Road, Mumbai
Mumbai-400 001

PAN NO: AAACU 1672 R
(Appellant)                                 (Respondent)

                     Appellant by     :     Shri Vijay Mehta
                   Respondent by      :     Shri A. K. Modi

Date of Hearing:. 21.06.2012

Date of Pronouncement: 29-06-2012.




                                    ORDER


Per VIVEK VARMA, J.M. :


       The appeal filed by the assessee emerges from the order of CIT(A)-6,

Mumbai, dated 27.07.2010, wherein the assessee has raised the following

grounds :

             "1.The Ld. CIT(A) confirming the Assessing Officer's action of
             disallowing Bad Debts Written off (Reimbursable Expenses from AHB)
             Rs. 14,24, 880/-. The Expenses were incurred on behalf of AHB for
             procuring business, to be reimbursed by the AHB. However, due to
             dispute AHB had withheld our commission and expenses due from
             them. It was finally settled by agreeing to Lump sum amount and the
             balance had been rightly written off as not recoverable.


                                    Page 1 of 3
                                                   M/s. Ushdev International Limited
                                                               I.T.A. No. 6441/M/2010


              2.     The Ld. CIT(A) held initiating penalty proceedings under sec
              271(1)(c) is premature hence, dismissed our ground".

2.     The facts are that addition on account of claim of bad debts was

rejected by the A.O. and the issue went up to the Hon'ble ITAT, wherein, the

ITAT set aside the issue to the file of the A.O, because the A.O. had no

occasion   to go through the additional evidence placed by the assessee

before the CIT(A). In the second round also, the assessee was unable to

satisfy the A.O. on its claim, and, the CIT(A), in this round of proceedings,

rejected the plea of the assessee and is now once again before the ITAT.

3.     Before us, the assessee pleaded its inability to not to produce the

evidence, before the revenue authorities, which he intended to do now. The

AR, placed before us a copy of email received by it from its counter parts in

Madrid, Spain, stating the settlement of their dispute. The AR, therefore,

pleaded that in view of substantial justice, the issue may kindly be restored to

the file of the AO.

4.   The DR did not object to the submissions made by the AR.

5.    We have to record, that this letter was neither supported by an affidavit

nor through any application under rule 29 of the Income Tax Appellate

Tribunal Procedure Rules, but since, we are required to ascertain the facts,

and render justice to either parties, we, once again restore the issue to the

file of the A.O. to form an independent opinion on the document of

settlement as placed before us along with any other evidences, that the

assessee wants to rely upon.




                                   Page 2 of 3
                                                     M/s. Ushdev International Limited
                                                                 I.T.A. No. 6441/M/2010


6.     We, therefore, set aside the order of the CIT(A) and restore the issue

to the file of the A.O. with the above directions.

7.     The appeal is thus treated as allowed for statistical purposes.

       Order pronounced in the open Court on this day of 29/06/2012.


       Sd/-                                                Sd/-
  (B.RAMAKOTAIAH)                                         (VIVEK VARMA)
ACCOUNTANT MEMBER                                       JUDICIAL MEMBER

Mumbai: 29/06/2012.
p/-*




                                    Page 3 of 3
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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