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2012 (6) TMI 110 - AT - Income TaxUnsecured loans - Unexplained cash credit u/s 68 - held that:- there is no dispute that the unsecured loans in the account of Ms.Usha Menon and Deepa Travels are appearing in the earlier year’s balance-sheet of the assessee as on 31.3.2005. However, from the confirmation letters filed by the assessee, we observe that there is difference in the old balances and current years figures which the assessee could not reconcile even at this stage. - matter remanded back to AO. Adhoc addition of cash expenses u/s 40A(3) - held that:- The AO without pointing out any payment in cash by the assessee over Rs.20,000/- made disallowance u/s 40A(3) of the Act. - merely because the assessee before the Ld. CIT(A) has stated that, in alternative, the addition is on a very higher side and the same may be reduced, does not mean that the disallowance can be made u/s 40A(3) of the Act or on adhoc basis the same may be reduced to 10%. - Decided in favor of assessee. Non deduction of TDS u/s 194C - held that:- since the assessee paid the TDS amount of Rs.2,96,316/- on 8.6.2006 before the due date of filing return of income u/s 139(1) of the Act, therefore, the impugned disallowance u/s 40(a)(ia) made by the AO is deleted.
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