Add description for your Article from here.These case coomenced between the Motila Oswal
\ncommodities and Deputy Commisioner of Income Tax
\ndepartment Mumbai.The present appeal has been
\npreffered by the assesse(one upon whom payment is
\nassessed) against the order dated 28 th august 2015 of the
\ncommissioner of Income Tax. The only ground in this
\nappeal is regarding dissallowance of lease line charges of
\nRs.3,06,360\/- under section 40(a)(ia) of the Act. [Section
\n40(a)(ia) of the Income Tax Act,1961,any amount
\npayable to any Indian resident person tax is to be
\ndeducted under chapter XVII-B. If tax is not deducted or
\nafter deducting tax, has not been deposited before
\nsubmission of return of Income u\/s 139(9) of the Act,
\n30% of the amount is disallowed.]During the year the
\nassesse made the payment of lease line charges of
\nRs.3,06,360\/- to MTNL Mumbai, MCX and TATA services.It
\nis grouped under the head \u201cTelephone and Lease Line
\ncharges\u201din the Profit and Loss a\/c no TDS was deducted on
\nthe siad expenses. Detailed reasoning was given by the
\ncompany with various previous case laws son no
\ndissalowance is made.
\nThe accounting officer gave various case laws and
\nmatter taken to the Ld.CITand the Ld CIT(A) has partly
\nallowed the appeal os assesse. Ld.D.R allowed to process
\naccordingly. They heard the heated argument of both the
\nparties and find that issue is controvrseal. Further they
\nstated that lease line cannot be considered as the
\nrendering of the technical services and hence provision of
\nsection not attracted.the AO disalowed the above amount
\ninvoking section 40(a)(ia) on the groundd that assesse not
\nable to comply with the applicable TDS provisions. But the
\ngrounds stated by revenue are :
\n1)Ld CIT erreed in deletion of additional amount but ao has
\nrightly treated the vanda as speculation under 73 as per of
\nAct<\/p>\n
.<\/p>\n
2)VSAT is the part of the computer and it is eligible for the
\ndepreciation@60% but appreciating fact that VSAT essentially
\npar of communication so eliegible for @25%
\n3)AO observed during the assessement that assesse has claimed
\ndepreciation on VSAT @60%.According to AO the the VSAT not
\nthe part of computer system but the communication part As AO
\nsued the show caused notice why the VSAT is part of the
\ncomputersystem and not the communication system.
\nIn appallet preceedings the Ld.CIT(A) allowedd appeal of the
\nassesse.it was all occur because the assesse not incurred the
\nprofit
\nObjection has been made as the Ld CIT(A) ought to have
\nheld that the Education cess and Higher Education Cess paid by
\nassess is allowed as deduction while computing business income
\nof assesse.As this responses done till the final petition.Cross
\nobjection was filed delayed of 181 days.
\nIn further proceedings the issue raised of education cess and
\nhigher education cess was not claimed in the return of income
\nand was being claimed for the 1 st time.Ld DR opposed the further
\ngrounds and request to that without prejudice take decision after
\nverification of the fact.
\nAccording to the Hon\u2019ble High court(Bombay)has
\nconcluded that there was no prohibition on the the deduction on
\nthe any amount paid towards \u201ccess\u201dwhile computing the head
\n\u201cprofits and gains of the business\u201d
\nIn the result the appeal of the revenue is dismissd and the
\ncross objection of the assesse is allwed. This was done Between
\nthe Judicial Membar and the Account Member in Mumbai.<\/p>\n","protected":false},"excerpt":{"rendered":"
Add description for your Article from here.These case coomenced between the Motila Oswal commodities and Deputy Commisioner of Income Tax department Mumbai.The present appeal has been preffered by the assesse(one upon whom payment is assessed) against the order dated 28 th august 2015 of the commissioner of Income Tax. The only ground in this appeal… Continue reading MOTILAL OSWAL VS DCIT MUMBAI<\/span><\/a><\/p>\n","protected":false},"author":116541,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65],"tags":[1754],"class_list":["post-17324","post","type-post","status-publish","format-standard","hentry","category-civil-law","tag-enrollment-no-m2223","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/17324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/116541"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17324"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/17324\/revisions"}],"predecessor-version":[{"id":17337,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/17324\/revisions\/17337"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17324"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}