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2012 (11) TMI 269 - AT - Income TaxDisallowance of Business expenses – Held that:- AO has allowed the assessee’s similar claims of expenditure and no such disallowances have been made - expenditure has been disallowed on surmises and suspicion. In preceding and subsequent years similar expenditure has been allowed by AO in assessments u/s 143(3) on same business – disallowance deleted - in favour of assessee Regarding claim of finance charges on the leased property – Held that:- Fact about incurring of finance charges was mentioned in assessee’s books of accounts - Revised return filed by the assessee was not to make a fresh claim but was correcting its claim in respect of business income and house property income - earning of lease rent is not disputed which is taxed under the head income from house property. Similarly, the interest has been paid in relation to acquisition of lease property - unless there is material change in the facts and circumstances of a case, the principle of consistency should ordinarily be followed. No extra ordinary reason has been put forth by the department to deviate from the principle of consistency – in favor of assessee
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