9911796707
TMI Blog2017 (12) TMI 367X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee is not accepted. Therefore, we find that the finding of the Tribunal in paragraph 13 on the second issue, in our considered opinion, has been rendered without going into the commercial aspect of the effect of the registration fee paid by the assessee, which, even according to the Assessing Officer, is a huge expense. Remand the matter to the Assessing Officer for fresh consideration. X X X X Extracts X X X X X X X X Extracts X X X X ..... facturing pesticides and chemicals and had filed its return of income for the Assessment Year 2010-11 on 23.09.2010 with a taxable income of ₹ 19,33,06,870/-. The case was selected for scrutiny and notice under Section 143(2) was served on the assessee. The assessee claimed deduction for donation of ₹ 2.5 crores to M/s.Mahila Utkarsh Sansthan Trust in Indore, Madhya Pradesh under Section 35AC of the Income Tax Act, 1961. The donations were made on various dates through the assessee's bank account maintained with the State Bank of India and the Kotak Mahindra Bank at Kolkata. The assessee has produced a copy of Form 58A issued by the President of the Trust for an amount of ₹ 2.00 crores. The Assessing Officer sent a let ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng rendered by the CIT (A). 5.On further appeal to the Tribunal, on the first issue with regard to the donation, the Tribunal has remanded the matter to the Assessing Officer for fresh consideration by following a decision in the case of M/s.Mangal Tech Park Pvt. Ltd. in I.T.A.No.1439/Mds/2014 and 2084/Mds/2015 for the Assessment Year 2008-09, vide order dated 17.06.2016. With regard to the second aspect pertaining to the payment of registration fee charges, which the assessee claimed to be equitable to an intangible asset, the Tribunal granted the relief to the assessee by placing reliance on a decision of the Hon'ble Supreme Court in Techno Shares and Stocks Ltd., reported in (2010) 327 ITR 323 (SC). 6.After elaborately hearing the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der, has not given independent reason as to why the alternate submission of the assessee is not accepted. Therefore, we find that the finding of the Tribunal in paragraph 13 on the second issue, in our considered opinion, has been rendered without going into the commercial aspect of the effect of the registration fee paid by the assessee, which, even according to the Assessing Officer, is a huge expense. Therefore, we feel that the second issue also should be remanded to the Assessing Officer for fresh consideration giving liberty to the assessee to raise all issues including the alternate plea that it should be treated as a revenue expenditure. 8.Thus, for the above reasons, we find that the substantial questions of law (i) and (ii) as ra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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