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2016 (8) TMI 71 - ITAT KOLKATADisallowance of cash payment u/s 40A(3) - Held that:- Genuineness of the payment has not been doubted by the lower authorities and various courts have held the same issue in favour of the assessee, where genuineness of the parties to whom payment in cash was not subject matter of the dispute. We find in the similar facts and circumstances where the genuineness has not been doubted, the Hon’ble jurisdictional High Court in the case of Girdharilal Goenka vs. Commissioner of Income Tax (1988 (12) TMI 59 - CALCUTTA High Court ) wherein held where the assessee has satisfied the Assessing Officer as to the genuineness of the payment and the identity of the payee, and that payee insisted on cash payment the circumstance that there was a delay in making payment of the bills by itself would not take the case out of the ambit of exceptional or unavoidable circumstances referred to in r. 6DD(j). - Decided in favour of assessee Disallowance on account of short drawings - Held that:- The drawings is very law comparing to the status of the assessee as he was owing a multi-storey building, car etc. The drawings were utilised towards municipal tax liability, the electricity expenses, household expenses, using motor car running expenses, road tax, car insurance and maintenance, expenses towards social obligation, daughter’s education expenses. Accordingly, additions correctly made. - Decided against assessee
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