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2010 (9) TMI 713 - ITAT, JAIPURDeduction of 20 per cent - Valuation report - Merely by stating that building has been constructed in a beautiful manner and without any outside help such building cannot have constructed, cannot be the basis for drawing inference that the building was not constructed under self supervision - complete books of account have been maintained by the assessee and they have not been rejected either by the lower authorities - Held that: section 142A is not applicable on the facts of the present case because the Assessing Officer has not stated anywhere in his order that books of account prepared by the assessee and the cost of construction shown by the assessee has not been recorded in the books of account Undisclosed investment - It is amply proved that the assessee has maintained books of account for constructing the house and they were not found defective - It has been found that vehicles and telephone has been used for business purposes and, therefore, disallowance was not correct - The learned Commissioner of Income-tax (Appeals) further noted that the addition made on account of capital account which is the loan and advances already given which was shown in the balance-sheet and refund from income-tax, therefore, there is no reason to make any addition - In the result, the appeals of the Department are dismissed, and the cross-objections of the assessee are allowed
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