Mercedes - Benz India Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax
In the result, appeal of the assessee is partly allowed for statistical purposes
ITA 1865/PUN/2013[1999-2000]Status: DisposedITAT Pune01 Aug 2019AY 1999-2000
Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अऩीऱ सं./ Ita No. 1865/Pun/2013 यनधाारण वषा / Assessment Year : 1999-2000 Mercedes Benz India Private Limited. ( Formerly Known As Daimler Chrysler India Private Limited) E-3, Midc Chakan, Phase-Iii, Chakan Industrial Area, Kuruli & Nighoje, Tal : Khed, Pune-410 501. Pan : Aabcm 1789L .......अऩीऱाथी / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-9, Pune. ……प्रत्यथी / Respondent
For Appellant: Shri Percy Pardiwala &For Respondent: Shri S. B. Prasad
Section 35A
…settled by way of entries in the books of accounts and not 'actually paid by way of money', the same should also be treated as 'paid' or incurred'. In this regard, reliance is placed on the decision in case of Teletherm Instruments Co (P.) Ltd. Vs ACIT (1993) 45 ITD 203 (Mad) (refer page 981 to 984 of the Paper Book) where the definition of the term 'paid' as given under section 43(2) was applied in the context of section 35AB to mean that on execution of the agreement entire amount can be said to have been 'paid' as per the mercantile method of accounting. Hence, based on the aforesaid judicial precedents, it is…
