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
Objection of CIT(E) for loans taken without prior permission from Charity Commission was no reason for denial of registration u/s…
There is no prohibition to entertain a complaint at the instance of spouse of a CA for the reason that…
PCIT cannot invoke the revisionary jurisdiction u/s 263 of the Income Tax Act upon a proposal from the Assessing Officer…
If AO intends to disturb income returned by assessee, it is mandatory on his part to issue notice under section…
Source of cash deposit being sales proceeds of household items upon sale of flat was held plausible and addition u/s…
TDS deductibility being debatable issue and not an apparent incorrect claim, CPC was not justified in making the disallowance In…