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2012 (11) TMI 233 - ITAT, AHMEDABADUnexplained cash credit - CIT(A) deleted the addition relying on additional evidence u/r 46A - Held that:- The appellant had filed confirmation report before the A.O. during the course of assessment proceeding as evident from the remand report. The CIT(A) also given fresh opportunity to the A.O. which has been availed by the A.O thus no point of violation of rule 46A arises - As the appellant had discharged her burden of prove by filing the confirmation, PAN No., copy of return and explanation of source of cash creditors, the order of the CIT(A) is hereby confirmed - The loans were advanced for business acquisition, advances were given from own interest free borrowings/fund and during the year no loan was advanced by the appellant.The interests were paid on bank loan, which was utilized for business purposes. No interference in the order of the CIT(A) is warranted - in favour of assessee. Depreciation on electrical installation and fitting in the hotel building - @ 25% OR 15% allowable as per IT Rules - Held that:- As per appellant this was the depreciation on telephone, Air Conditioner, Television and Water Heater & further disallowance made from the telephone expenses was claimed to be on higher side. As these facts had not been made out by the A.O. in assessment order, it is required to be re-adjudicated by the A.O - in favour of assessee for statistical purposes.
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