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2012 (5) TMI 342 - AT - Income TaxDisallowance of sales consultancy charges - to three persons are HUFs - payments were made through account payee cheques. - held that:- The only grievance of the revenue is that details of nature of services rendered by the HUFs and how those services were utilized for the business of the assessee, were not filed by the asesssee. We are of the view that since the said required details are necessary to decide the issue, we restore the issue to the file of the AO to decide the issue after examining the details. Addition on account of depreciation on fixed assets - held that:- assessee had produced copy of electricity and water bills paid and it is true that these bills are raised in the name of the previous owner but the said payments are effected by the assessee as the bank account show as the payment made by cheque. - Decided in favor of assessee. Payment of relatives - market rate of interest on loans - interest paid by the assessee to the individuals @ 18% per annum on borrowed capital - held that:- AO has not disputed the loan, its usage or quantum of interest paid, therefore, the interest cannot be disallowed. - Decided in favor of assessee.
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