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2014 (6) TMI 221 - AT - Income TaxDisallowance of claim of interest and salary payment – Proper details furnished but not verified - Held that:- The order of the CIT(A) including the remand report, does not indicate the amounts invested by the individuals - Even though assessee furnished evidences regarding payment of interest and consequent TDS made in respective individuals cases and confirmations of them were filed, the amount in the absence of their individual investments and the interest calculation of amount claimed cannot be allowed - assessee has not placed either the annual report or the computation of income - whether the interest is to be allowed as a business expenditure or expenditure relating to earning any interest under the head “Other Sources” is also not clear. The utilisation of the amounts for the purpose of business is required to be established if the amounts are invested in the ‘business’ or under head ‘income from house property’ or ‘other sources’ required to be examined - none of the details are placed except the confirmation letters from the parties, thus, the expenditure in the absence of necessary details of the claims and also under which head the amounts are claimed cannot be allowed - even the salaries and wages are also stated to have been paid for the purpose of the company – the details were not on record nor placed before the AO and CIT(A) - In the absence of any evidence on record, the expenditure without getting it verified by the AO cannot be allowed – thus the matter is remitted back to the AO for verification.
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