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Issues Involved: The judgment addresses the deductibility of betterment charges, bank guarantee commission, and stamp charges in the computation of total income for the assessee.
Betterment Charges: The court referred to a previous decision and upheld that betterment charges were not deductible in the computation of total income, ruling in favor of the Revenue and against the assessee. Bank Guarantee Commission: The court considered the nature of expenditure by way of bank guarantee commission, citing precedents and ultimately held that such expenditure is of a capital nature and not deductible in the computation of total income, aligning with previous decisions and dismissing the assessee's contentions based on other court rulings. Stamp Charges: The issue regarding stamp charges paid in respect of an agreement for deferred payment basis was not pressed by the assessee due to subsequent depreciation allowed, and thus no opinion was expressed on this matter. Supreme Court Decisions: The court discussed Supreme Court decisions related to guarantee commission paid by the assessee, highlighting that the High Court had previously allowed such expenditure as a deduction, but the Supreme Court dismissed the appeals filed by the Revenue, affirming the view taken by the Andhra Pradesh and Madras High Courts. Conclusion: The court concluded that the decision in a previous case regarding bank guarantee commission stood impliedly overruled to some extent based on the Supreme Court decisions, and therefore, ruled in favor of the assessee and against the Revenue on the issue of bank guarantee commission. The references were disposed of with no order as to costs.
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