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2012 (7) TMI 480 - AT - Income TaxDisallowance out of Car and Telephone Expenses at 1/6th of the total expenditure - assessee is running the business with the help of its employees and the town of Pilkhuwa which is having narrow lanes, the places are reachable in a very short time due to less distance – Held that:- Personal use of the car and telephone could not be ruled out - disallowance out of car expenses and telephone expenses is restricted to 1/10th of these expenses on account of personal use Addition on account of gift received by assessee - income u/s 68 - gift was received through cheque and the assessee has filed copy of the gift deed in evidence of the gift having been received by the assessee - copy of the donor’s bank account on which the cheque for the amount of gift was issued was also furnished to the Assessing Officer - gift deed was executed between the donor and donee and copy of gift deed was filed during the course of assessment proceedings - donor has explained further regarding the source of the cash deposits made by her in her savings bank account and has stated that these were out of the interest income received by her from time to time which was kept at home and the interest income was declared in her returns of income – Held that:- Assessee has discharged its onus of proving the identity and creditworthiness of the donor and the genuineness of the transaction of gift. The Revenue could not bring any material on record to doubt any part of the statement on oath of the donor recorded by the Assessing Officer wherein she has explained source of the gift amount made by her - addition is accordingly deleted – In favor of assessee
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