DY. C.I.T.1(2), RAIPUR (CG) vs. M/S GODAWARI POWER & ISPAT LTD., RAIPUR (CG)

ITA 365/BIL/2014Status: DisposedITAT Raipur01 October 2018AY 2011-1231 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal partly allowed the Revenue's appeal. It upheld the deletion of disallowance for delayed PF/ESI payments, finding them deposited before the return filing due date. For Section 14A, it modified the CIT(A)'s order, allowing a 2% disallowance on dividend income towards administrative expenses, citing sufficient interest-free funds.

What were the facts?

The Revenue appealed an order of the CIT(A) concerning assessment year 2011-12. The assessee, engaged in manufacturing and power generation, had its assessment completed with several additions by the AO, including disallowances for CSR, charity, Pooja/festival expenses, Section 14A, and delayed PF/ESI payments. The CIT(A) granted partial relief.

What were the issues?

The key issues were the allowability of set-off of losses between eligible units for Section 80-IA deduction, the disallowance of CSR, charity, and Pooja/festival expenses, the applicability of Section 14A disallowance when sufficient interest-free funds are available, and the disallowance of delayed employee contributions to PF/ESI.

Which sections of the Income-tax Act were involved?

Section 80-IA,Section 14A,Section 2(24)(x),Section 36(1)(va),Section 139(1),Section 43B

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Income Tax Appellate Tribunal, RAIPUR BENCH, RAIPUR

Before: SHRI R. K. PANDA & MS. SUCHITRA KAMBLE

For Appellant: Shri R. B. Doshi, CA
For Respondent: Shri P. K. Mishra, CIT(DR), Shri R. B. Doshi, CA

Heard together (2 matters)

C.O. No.12/RPR/2018
ITA No.365/RPR/2014

Read from the judgment's own cause title. This page is filed under one of them.

PER R. K. PANDA, AM : This appeal filed by the Revenue is directed against the order dated 25.09.2014 of the ld. CIT(A), Raipur (CG) relating to assessment year 2011-12. The assessee has filed the Cross Objection against the appeal filed by 2 C.O. No.12/RPR/2018

the Revenue. For the sake of convenience, these were heard together and are being disposed of by this common order.

ITA No.365/RPR/2014 (By Revenue) :

2.

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The order continues below.

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