Case Law Details
Case Name : M/s Sigma Aldrich Chemicals Pvt. Ltd. Vs Addl. CIT, Bangalore (ITAT Bangalore)
Appeal Number : IT Appeal No. 268/2012
Date of Judgement/Order : 24/07/2015
Related Assessment Year : 2005-06
Courts :
All ITAT ITAT Bangalore
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Brief of the case:
The ITAT Bangalore in the case of M/ s Sigma Aldrich Chemicals P. Ltd. held that when short landing of goods is common having regard to the nature of goods and such loss is negligible , then it has to be allowed deduction as business expenditure.
Facts of the case:
- The assessee company is a wholly owned subsidiary of Sigma Aldrich Foreign Holdings Co. Inc. It is engaged in the manufacture and trading of chemicals and distribution of a broad range of bio-chemicals, organic and inorganic chemicals and related products.
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Author Bio
The verdict in this case has come from Income Tax Dept since the dispute was business expenditure.
I am eager to know how the case was handled from Customs Dept. angle because of material shortage at the time of receipt.
Request you to please let me know.
Regards,
S. Sundaresan