EXPRESS PUBLICATIONS (MADURAI)PRIVATE LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-II(1), CHENNAI

ITA 754/CHNY/2023Status: DisposedITAT Chennai27 March 2024AY 2012-13Bench: HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member)17 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal partly allowed the assessee's appeals, deleting the disallowance of interest expenditure and allowing the relaunch expenses as revenue expenditure. The revenue's appeal was dismissed, upholding the deletion of disallowance for foreign agency payments and the directions for verification.

What were the facts?

The assessee appealed against disallowances of interest expenditure and relaunch expenses, and short credit of TDS. The revenue also appealed against the deletion of disallowance for payments to foreign agencies and directions for verification of interest receipts and bad debts.

What were the issues?

Whether interest-bearing borrowings were diverted to group companies, and whether 'relaunch expenses' were revenue or capital in nature. Also, whether payments to foreign agencies required TDS deduction.

Which sections of the Income-tax Act were involved?

Section 36(1)(iii),Section 40(a)(i)

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Cases cited in this judgment(8)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Heard together (4 matters)

ITA No.730/Chny/2023
ITA No.737/Chny/2023
ITA No.754/Chny/2023
ITA No.1219/Chny/2023

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

आयकर अपीलीय अिधकरण “बी” "ायपीठ चे"ईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा ! एवं माननीय "ी मनोज कुमार अ&वाल ,लेखा सद) के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1. आयकरअपीलसं./ ITA No.730/Chny/2023 (िनधा*रणवष* / Assessment Year: 2010-11) & 2. आयकरअपीलसं./ ITA No.737/Chny/2023 (िनधा*रणवष* / Assessment Year: 2011-12) & 3. आयकरअपीलसं./ ITA No.754/Chny/2023 (िनधा*रणवष* / Assessment Year: 2012-13) M/s. Express Publications (Madurai) DCIT P. Ltd.

Corporate Circle-II(1) बनाम/ C/o. Sri T.N. Seetharaman, Advocate Chennai.

Vs. 384 (Old No.196) Lloyds Road, Chennai-600 086. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACI-0842-D (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपीलसं./ ITA No.1219/Chny/2023 (िनधा*रणवष* / Assessment Year: 2012-13) DCIT M/s. Express Publications (Madurai) P.

Corporate Circle-II(1)

Ltd. बनाम/ Vs.

Chennai C/o. Sri T.N.Seetharaman, Advocate 384 (Old No.196) Lloyds Road, Chennai-600 086. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACI-0842-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee by : Shri T.N. Seetharaman (Advocate)- Ld.AR " थ"कीओरसे/Revenue by : Shri D. Hema

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