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2017 (12) TMI 735 - ITAT DELHIAdhoc addition on account of unverified expenses - Held that:- In the present case, it appears that the disallowance had been made by the AO for the reasons that most of the expenses were paid in cash which were treated as unverified expenses. However, the AO did not point out any specific defects in the books of account, at the same time, the assessee also did not furnish the complete vouchers for the expenses incurred. In opinion, the addition made by the AO and sustained by the CIT(A) is on higher side. Therefore, to meet the ends of justice, deem it appropriate to sustain the disallowance of ₹ 50,000/- and as such the assessee will get a relief of ₹ 50,000/-. Addition u/s 68 on account of loan taken from Sh. Prem jeet Singh - Held that:- In the present case, it is noticed that the assessee furnished the copy of confirmation received from the creditor Sh. Prem Jeet Singh from whom the loan of ₹ 1,00,000/- was received through cheque which is evident from copy of the bank statement placed. The said bank statement was not available during the course of assessment proceedings. However, it was obtained on 19.03.2015 while the AO closed the proceedings on 16.03.2015. The assessee also requested the AO to issue the summon u/s 131 but that request was not accepted by the AO for the reason based known to him. In the present case, the loan of ₹ 1,00,000/- was received by the assessee through cheque from Sh. Prem Jeet Singh, however, the assessee neither furnished the copy of his Income Tax Return nor produced him to prove the identity and creditworthiness. We deem it appropriate to remand this issue back to the file of the AO to be adjudicated afresh in accordance with law after affording a due and reasonable opportunity of being heard to the assessee.
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