Tribunal held that marketing income had been considered as net of expenses, and therefore did not appear separately having been credited under the head income. The assessee had considered the respective income under the relevant heads before debiting expenses to the profit and loss account. Therefore there was no justification for the disallowance. As regards security charges in the ledger account. This aspect needed verification vis-a-vis the debit notes and invoices raised. The assessee was to file relevant documents to establish its claim. The Commissioner (Appeals) was to verify the documents filed by the assessee. In the event it was found that had been included, the addition was to be deleted. ( AY.2014-15)
Orion Property Management Services Ltd. v. ITO (2020)83 ITR 4 (SN) (Bang.)(Trib.)
S. 143(3) : Assessment-Malmanagement company-Sponsorship and promotional income-Power and fuel Charges-Marketing income considered net of expenses and not separately credited to profit and loss account-Addition is held to be not valid-Security charges, matter remanded. [S. 28(i)]