2018 (7) TMI 2238

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..... n respect of which the assessee was sought to be penalised for not deducting the tax deducted at source, holding that these expenses were in respect of the income accrued outside the territory of India for services rendered. Deduction allowed for writing off advance - Revenue s stand is that the course followed by the Commissioner or the Tribunal was not permissible, as specific deduction was .....

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..... venture agreement - The Tribunal allowed deduction of the same as Revenue expenditure. Revenue s stand on the other hand is that such investment was in capital assets and Revenue s expenditure ought not to have been allowed by the Tribunal following the decision in Binani Cement Ltd [ 2015 (3) TMI 849 - CALCUTTA HIGH COURT] allowed the claim of the assessee. We do not find any error of law in s .....

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..... r. R. Poddar, Adv. The Court:-We have heard Mr.Bandopadhyay, learned Counsel for the Revenue. Out of the eleven points of law formulated by the Revenue, the Revenue did not press appeal on two points, being ground nos.4 5 as it was conceded that there was no question of law involved therein. In our opinion, however, the same reasoning ought to apply in respect of the remaining seven points o .....

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..... cific deduction was not claimed in the return. However there are two authorities of this Court in the cases of Binani Cement Ltd. Vs. Commissioner of Income- Tax Anr. reported in [2016] 380 ITR 116 (Cal.) and Commissioner of Income-Tax Vs. Britannia Industries Ltd. reported in [2017] 396 ITR 677 (Cal.) where deduction claimed for the first time before the appellate authority was foun .....

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..... assessee. We do not find any error of law in such a course being adopted as the point involved is covered in favour of the assessee in the aforesaid authority. Question Nos.8, 9 10 are in relation to treatment of certain expenses. Unclaimed salary and wages and depreciation were allowed by the two statutory appellate fora. There is concurrent finding of fact on the points involved in these q .....

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