SHRI. SHANKARLAL GILADA vs. THE INCOME TAX OFFICER,

Bench: G.NARENDAR,M.NAGAPRASANNA

391 ITR 218 (P&H)] that the AO, while passing the assessment order, had already restricted the disallowance to the amount which was claimed as exempt income by applying the formula contained in Rule 8-D of the Rules and holding that Section

M/S WIPRO LIMITED vs. THE ADDITIONAL COMMISSIONER OF INCOME-TAX,

In the result, the appeal is disposed of in terms of

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

disallowed under Section 14A of the Act and was upheld by the Dispute Resolution Panel and the tribunal rightly reduced it to 2.5%. It is also pointed out that the assessee itself has worked out the same at 2%. It is also urged that losses of non STP units, profits of taxable Units cannot be set off against profits

PR COMMISSIONER OF vs. M/S WIPRO LIMITED

In the result, the appeal is disposed of in terms

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

disallowance under Section 40(a)(ia) of the Act is to ensure prevention of revenue leakage on foreign payments as recovery of tax from non resident payees was difficult. With regard to the claim of set off of STP unit losses of the assessee, it is 17 submitted that in view of decision of the Supreme Court in ‘COMMISSIONER

THE PR.COMMISSIONER OF INCOME TAX vs. M/S. INFOSYS BPO LTD

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

disallowed a sum of Rs.14,62,586/- under Section 14A of the Act. Being aggrieved, the assessee filed an appeal before the Commissioner of Income Tax (Appeals), who by order dated 28.03.2014 partly allowed the appeal preferred by the assessee. Thereafter, the revenue as well as the assessee filed appeals before the Income Tax Appellate Tribunal (hereinafter referred

PR. COMMISSIONER OF INCOME TAX vs. M/S SASKEN

Appeals are dismissed at the stage of admission

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

391 ITR 274 (SC) held in favour of the assessee. Insofar as disallowance of deduction under Section 10A in respect

THE COMMISSIONER OF INCOME TAX vs. M/S.ABB LTD

In the result, both the substantial questions

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

disallowance in respect of writing off the debts. It was further held that investment made for equity shares of M/s Gujarat Instruments Ltd., cannot be written off as a revenue loss and the same is a dead loss and therefore, is not allowable. Being aggrieved, the revenue as well as the assessee preferred appeals. The tribunal vide order dated

COMMISSONER OF INCOME TAX vs. M/S SHAW WALLACE

In the result, the appeal is dismissed

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 36(1)(vii) of the Act and the expenditure relating to prior period could not be claimed in the guise of bad debts. In support of aforesaid submission, reliance has been placed on the decision of the Supreme Court in 'GOETZE INDIA LTD. Vs. CIT' 284 ITR 323. 5. On the other hand, learned counsel for the assessee