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TMI Blog2009 (12) TMI 655X X X X Extracts X X X X X X X X Extracts X X X X ..... are the children of the managing director – Held that:- matter is remanded to the Assessing Officer only to consider whether the appellant is entitled to claim deduction in respect of the amount spent by the appellant-company to educate its two directors under section 37(1) of the Income-tax Act and also to consider the claim under section 80-IA of the Act. matter is remanded - 361 of 2004 - - - Dated:- 8-12-2009 - MANJUNATH K. L., ARAVIND KUMAR, JJ. JUDGMENT K. L. Manjunath J.- 1. The assessee has come up in this appeal, challenging the concurrent findings on the order passed by the Assessing Officer by the Commissioner of Income-tax (Appeals), which has been confirmed by the Income-tax Appellate Tribunal in I. T. A. No. 71 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... " 3. We have heard the learned counsel for the parties. 4. The assessee is engaged in the manufacture and supply of automobile components to various automobile companies in India. For the assessment year 1997-98, return of income was filed by the assessee on November 27, 1997, by declaring total income of Rs. 55,42,403. The case was taken up for scrutiny. The Assessing Officer proceeded on the ground that the assessee- company did not co-operate with the proceedings. The order of assessment was completed on September 20, 2000. Being aggrieved by the same, the assessee filed an appeal before the Commissioner of Income-tax (Appeals). The appeal filed before the Commissioner of Income-tax (Appeals) came to be dismissed, against which a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S. A., even though they are directors of M/s. Ban- galore Software Services. There is no nexus between qualification, which they acquire in the U. S. A., with the business of the company. 8. The learned counsel for the Revenue would further contend that these two directors, who are sponsored for higher education were directors of another company by name M/s. Bangalore Software Services. Therefore, he requires the court to reject the contention of the learned counsel for the assessee. 9. After hearing the learned counsel for the parties, we are of the view just because the two directors were children of the managing director of the company, cannot be a ground for the Assessing Officer to reject the claim of the assessee, until and un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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