Expenditure incurred for maintenance of immature rubber plants in replanted areas not allowable as deduction as per High Court judgment
The assessee had challenged the order of CIT(A) in upholding the assessment order of the AO disallowing the cost of planting and maintenance of immature rubber plants.
ABCAUS Case Law Citation:
ABCAUS 2537 (2018) 09 ITAT
The assessee company was engaged in rubber plantation. The Assessing Officer completed the assessment u/s 143(3) of the I.T.Act by making a disallowance towards the claim of deduction made by the assessee on account of maintenance of immature rubber plants.
Following the judgment of the Hon’ble High Court, the CIT(A) confirmed the view taken by the Assessing Officer in making disallowance of expenditure on account of maintenance of immature rubber plants.
The Tribunal observed that the expenditure incurred was not for infilling in yielding area. The expenditure was incurred for maintenance of immature rubber plants in replanted areas and such expenditure could not be allowed as deduction going by the dictum laid down by the Hon’ble High Court.
Accordingly, the appeal filed by the assessee was dismissed
Whether an assessee developing an infrastructure facility of Government is a contractor and ineligible for claim of deduction under Section…
Jurisdictional Principal Commissioner of Income-tax or Commissioner of Income-tax to condone delay in filing Form No. 10A for Registration u/s…
AO was not justified in making addition by adopting method of extrapolation without bringing any material evidence in support -…
Court can not sit over comparative financial attractiveness of rival offers or to substitute its own view for the decision…
When quantum appeal stands restored to the AO, penalty can not be levied u/s 221(1) of the Income Tax Act…
Even if, the assessee is engaged in the bogus purchases, the entire purchases cannot be disallowed - ITAT In a…