CHIRANJEEVI WIND ENERGY LIMITED,COIMBATORE vs. DCIT CORPORATE CIRCLE 1, COIMBATORE

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ITA 2385/CHNY/2017Status: DisposedITAT Chennai06 September 2018AY 2012-133 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the issue was covered by an earlier order of the Tribunal in the assessee's own case for a different assessment year. Therefore, there was nothing further to adjudicate.

What were the facts?

The assessee claimed relief under Section 35D of the Income Tax Act for commission and legal charges incurred for arranging working capital funds. The Assessing Officer denied this relief.

What were the issues?

Whether commission and legal charges incurred for arranging working capital funds are eligible for deduction under Section 35D of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 35D

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH : CHENNAI

Before: SHRI ABRAHAM P. GEORGE & SHRI DUVVURU RL REDDY]

आदेश / O R D E R

PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER

1.

In this appeal filed by the assessee, which is directed against an order dated 30.06.2017 of ld. Commissioner of Income Tax (Appeals)-1, Coimbatore, it is aggrieved on relief not being given u/s.35D of the Income Tax Act, 1961 (in short ‘’the Act’’) for commission payment and legal charges incurred in connection with arrangement of funds for working capital.

Ld. Counsel for the assessee admitted that the issue in 2. question stood covered against the assessee by an earlier order dated 21.10.2013 by this Tribunal in assessee’s own case in for assessment year 2009-2010. Accordingly, considering the submission made by the ld. Authorised Representative, there is nothing left to adjudicate.

3.

In the result, the appeal of the assessee stands dismissed.

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