M/S UNITED BREWERIES LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

ITA 481/BANG/2018Status: DisposedITAT Bangalore11 November 2022AY 2012-1344 pages
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What did the Tribunal hold?

The Tribunal held that the disallowance under Section 14A cannot be added to book profits for the purpose of Section 115JB, following a jurisdictional High Court ruling. The Tribunal also restored certain issues related to TDS/TCS credit and demand on dividend distribution tax to the Assessing Officer for fresh verification.

What were the facts?

The assessee, United Breweries Limited, filed its return of income for AY 2012-2013. The Assessing Officer made several disallowances and additions, including depreciation on goodwill, disallowance under Section 14A, disallowance under Section 40(a)(ia), and addition on account of brand promotion expenses. The CIT(A) partly allowed the assessee's appeal.

What were the issues?

Whether disallowance under Section 14A can be added to book profits under Section 115JB, and the validity of various disallowances made by the Assessing Officer.

Which sections of the Income-tax Act were involved?

Section 14A,Section 115JB,Section 40(a)(ia),Section 43B,Section 143(3),Section 92CA

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Income Tax Appellate Tribunal, BANGALORE BENCHES “A”, BANGALORE

Before: Shri George George K, JM & Ms.Padmavathy S, AM

Hearing: 02.11.2022Pronounced: 11.11.2022

Per George George K, JM : This appeal at the instance of the assessee is directed against CIT(A)’s order dated 20.12.2017. The relevant assessment year is 2012-2013. 2. The brief facts of the case are as follows: The assessee is a limited company engaged in the business of manufacture and sale of beer under different brands like “Kingfisher” and “UB”. For the assessment year 2012-2013, the return of income was filed on 30.11.2012 declaring total income at `Nil’ under the regular provisions of the Income-tax Act and book profit of Rs.245,93,47,150 u/s 115JB of the I.T.Act. The return was subsequently revised on 07.02.2014 and the total income of Rs.

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