[aaykarbhavan] Misplaced Form 15-I deemed as TDS default, unless it is replaced by a duplicate Form 15-I

Misplaced Form 15-I deemed as TDS default, unless it is replaced by a duplicate Form 15-I

July 31, 2014[2014] 47 taxmann.com 78 (Chennai - Trib.)

IT : Depreciation be allowed where in light of fire incident which had gutted branch offices of assessee, assessee had not been able to produce documents in support of purchase of assets but assessee had been able to show from records that expenditure was incurred for fixing of assets

IT : Filing of Form 15-I to obtain benefit of section 194C being mandatory, since no effort was made by assessee to obtain duplicate form 15-I on account of loss of original, disallowance under section 40(a)(ia) be made

IT : Loss suffered by assessee on account of fluctuation in rates of foreign exchange is an expenditure under section 37(1)

IT : No disallowance under section 36(1)(iii) was called for as assessee had advanced interest free loan to its subsidiary company as a measure of commercial expediency and funds were used by subsidiary for purpose of business only

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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