ITA Nos. 1010-1012 & 1701/Kol/2019

Parties Involved

Facts Summary

The assessee, M/s Eureka Forbes Limited, is a company engaged in the business of trading and servicing of various products including vacuum cleaners, water filters, and electronic air cleaning systems. The assessee filed its return of income for the Assessment Years 2012-13 to 2015-16, which were selected for scrutiny assessment. The assessee preferred appeals against the assessment orders passed by the Commissioner of Income Tax (Appeals)-22, Kolkata. The appeals were heard together due to common issues and were disposed of via a common order. The assessee raised several grounds of appeal, including disallowance of expenses, addition of disallowance to book profits, and classification of corporate guarantees as international transactions.…

Legal Issues

• 1. Disallowance of expenses incurred on Repairs and Maintenance
• 2. Rejection of revised disallowance under Section 14A
• 3. Addition of disallowance to book profits under Section 115JB
• 4. Classification of corporate guarantees as international transactions

Judgment Outcome

Decided in favour of Assessee.

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• D.C.I.T Cir-10(1), Kolkata Vs. M/s. Eureka Forbes Ltd.

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