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Income Tax Appellate Tribunal, “B”, BENCH MUMBAI
Before: SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM
O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the assessee against the order of CIT(A)- Mumbai, for the assessment years 2005-06. 2. There is a marginal delay in filing the appeal. As the reasons stated for delay was found to be genuine, we condone delay of 43 days in filing appeal and appeal is heard on merit. 3. Ground No.1 relates to sustaining addition of Rs.43,726/- as capital expenditure on account of vehicle registration charges.
We found that amount was paid for registration of vehicle and also including road tax. No new asset has come into existence by payment of registration charges. Accordingly, we direct the AO to allow assessee’s claim for deduction of registration charges as revenue expenses.
Ground No.2 relates to disallowance of capital expenditure for increase in share capital.