Case Law Details
Case Name : Mehta Equities Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Mumbai
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Mehta Equities Ltd. Vs DCIT (ITAT Mumbai)
The issue under consideration is whether the CIT(A) is correct in upholding the action of the Assessing Officer in making a disallowance under section 36(1)(ii) of the Act; being bonus paid to the Directors of the Company by holding that such payments are in lieu of dividend or profits?
That there is no law that the assessee-company can be forced to pay dividend. However, learned Counsel of the assessee could not make cogent submission regarding the applicability of the provisions of section 36(1)(ii) as to whether the impugned sum would have been fall...
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Particulars : There is inconsistency in Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend.[36(1)(ii)]claimed in return in schedule OI and audit report
₹30,000
Amount mentioned in form Annexure 3CD (b)
₹0
Amount mentioned in the Income Tax Return (a)
₹30,000
Variance (b)-(a) returne rectification