Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 317 - ITAT MUMBAIAddition on account of difference in purchases made - Held that:- The assessee duly reconciled the purchase of accounts. In addition to the above the assessee furnished further details and evidences to clear all the doubts which were duly considered by Ld. CIT(A) and detailed findings have been recorded, accepting the claim of the assessee that purchase are duly reconciled. Thus, after taking into account all the facts and evidences it was held by the Ld. CIT(A) that there was no difference. Accordingly, it was held that books of accounts were wrongly rejected by the AO. It was further held by the Ld. CIT(A) that if there were some unpaid amounts which were disallowable u/s 43B then the same can be made by the AO and for this purpose the issue has been sent back to the file of the AO. Under these circumstances, we find that Ld. CIT(A) has been quite fair and justified while addressing all the issues that were raised by the AO and the assessee. It is further noted by us during the course of hearing before us that Ld. DR could nor point out anything incorrect or wrong in the detailed findings recorded by the Ld. CIT(A) and therefore, we do not find any justification to make any interference in the order of the Ld. CIT(A) and the same is therefore upheld. - Decided against revenue Disallowance made on account of 1/3rd of various expenses - Held that:- It is noted that books of accounts were produced by the assessee before the AO. But he was not satisfied with regard to the supporting evidences filed by the assessee and accordingly he made disallowance @ 1/3rd of the total expenses on estimate basis. During the course of hearing before us it was brought to our notice that in A.Y. 2008-09, disallowance has been made @ of 10% of these expenses which are identical in nature. Thus, taking into account all facts and circumstances of the case, we direct the AO to reduce the disallowance @ 10% of ₹ 35,59,716/- which comes to ₹ 3,55,972/-, the remaining disallowance is directed to be deleted. - Decided partly in favour of assessee
|