TMI Blog2013 (10) TMI 166X X X X Extracts X X X X X X X X Extracts X X X X ..... has given the false statement. On false estimate/statement, the penalty is justifiable as per the ratio laid down in Londu Lal R. P. vs. CIT [2006 (8) TMI 169 - ALLAHABAD High Court] and Shyam Biri Works Pvt. Limited vs. CIT [2002 (12) TMI 75 - ALLAHABAD High Court] - Decided against assessee. - Income Tax Appeal No. - 71 of 2009 - - - Dated:- 3-10-2013 - Hon'ble Rajiv Sharma And Hon'ble Dr. Satish Chandra, JJ. For the Appellant : Neerav Chitravanshi For the Respondent : D. D. Chopra ORDER (Delivered by Hon'ble Dr. Satish Chadra J.) Present Appeal under Section 260-A of the Income Tax Act 1961 has been preferred by the assessee against the judgment and order dated 23.01.2009 passed by the Income Tax Appellate Tribunal, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the additions were confirmed pertaining to the interest, travelling allowance and commission. The said additions were disallowed for the reason that the interest free loan and advances were provided to various parties. He also submits that the foreign travel expenses were debited under the foreign travelling account. The genuineness of the expenses has not been doubted anywhere, of course, the assessee was not able to bring any evidence to show that the expenses were incurred for the business purposes. Regarding the commission, learned counsel submits that the services were provided by the recipients of the commission. The genuineness of the expenses has not be doubted. He also submits that the penalty proceedings is an independent p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ni Coal Agency vs. CIT; 2005 (37) STJ 294 Alld.; and 3. CIT vs. Suraj Dal Mill; 2005 (37) STJ 547 Alld. Further, the concealment of facts is a question of fact as per the ratio laid down in the case of Sudarshan Silk vs. CIT; 300 ITR 205 SC. In the instant case, it appears that the assessee has not furnished any evidence pertaining to the ticket / vouchers to travel in foreign country. Similarly, no evidence was furnished that what services were rendered by the recipient of the commission. How much business was obtained by incurring such expenses. The interest bearing borrowed funds were given to the wife without any interest for personal purpose. In these circumstances, it appears that the assessee makes the claim of the said expen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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