Held that the assessee having stated that it was ready to produce evidence in regard to the dock and logistics expenses and services, that the assessee was to be granted more opportunity to produce the evidence. Matter remanded to Commissioner (Appeals).As regards interest written off the details were furnished hence the matter remanded to the Commissioner (Appeals) for adjudication after verification of facts. (AY.2015-16)
Bengal Tiger Line India P. Ltd. v. ITO (2024)113 ITR 11 (SN)(Chennai)(Trib)
S.37(1): Business expenditure-Providing Documentation And Administration support in relation to vessel traffic at ports and co-ordination with various Government authorities to obtain clearances, certificates and approvals Accrual of income-Accrual of income-Loan to director-Interest offered to tax-Interest written off-Matter Remanded To Commissioner (Appeals) to verify the facts. [S. 4, 5]
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