LARSEN & TOUBRO LTD,MUMBAI vs. DCIT 2(2), MUMBAI

ITA 6908/MUM/2012Status: DisposedITAT Mumbai29 April 2022AY 2001-0241 pages
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What did the Tribunal hold?

The Tribunal dismissed the assessee's ground regarding commission paid, following prior rulings. It allowed the assessee's additional ground concerning export profits eligible for reduction under Section 115JB. Revenue's grounds on club membership and work-in-progress valuation were dismissed.

What were the facts?

The appeals concerned disallowance of commission paid, treatment of non-compete fees, club membership expenditure, and valuation of work-in-progress. The Tribunal relied on previous co-ordinate bench decisions for most issues.

What were the issues?

Whether commission paid was allowable and how non-compete fees should be treated. The applicability of Section 115JB in relation to export profits was also a key issue.

Which sections of the Income-tax Act were involved?

Section 115JB,Section 80HHC

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Cases cited in this judgment(27)Show list

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Income Tax Appellate Tribunal, MUMBAI BENCH “A”, MUMBAI

Before: SHRI S.RIFAUR RAHMAN & SHRI AMARJIT SINGH

For Appellant: Shri J.D. Mistry, Sr.Advocate
For Respondent: Smt. Shailaja Rai,(CIT DR)
Hearing: 13/01/2022Pronounced: 29/04/2022

Heard together (4 matters)

I.T.A No.6908/Mum/2012
I.T.A No.2117/Mum/2013
I.T.A No.6878 /Mum/2012
I.T.A No.2284/Mum/2013

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2 Larsen & Toubro Asstt.Yrs 2001-02 & 2001-02

Per: S.Rifaur Rahman (AM): These cross appeals filed by the assessee and Revenue arise out of the independent orders of the Learned Commissioner of Income-tax (Appeals) for the assessment years 2001-02 and 2002-03. 2. Various grounds are raised in the cross appeals; they are deal

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