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2015 (7) TMI 1017 - AT - Income TaxAddition on difference in the opening and closing stock of work-in-progress - Held that:- As decided in assessee's own case for AY 2007-08 [2015 (7) TMI 717 - ITAT AHMEDABAD] it is well settled that the closing stock of earlier becomes the opening stock of succeeding year. In this view of matter and examining all aspects, it would be in the interest of justice if the assessing officer is directed to allow the closing stock of last year as the opening stock of current year. We accordingly, hereby direct the assessing officer to allow the closing stock of last year as the opening stock or current year. - Decided in favour of assessee for statistical purposes. Adhoc disallowance of 10% of the expenditure on repairs and maintenance of plant and machinery - Held that:- AO in his assessment order in para-5 has observed that in the instant case, the assessee has simply furnished copy of ledger account of the plant & machinery repairs and maintenance expenses claimed during the year. Mere furnishing of the copy of the ledger account would not prove that the expenditure has been incurred wholly and exclusively for the purpose of the business. It is observed by the AO that no other supporting evidence has been produced for verification. It is transpired from the records that the assessee has not filed any supporting evidence in the form of bills or vouchers either before the AO or before the ld.CIT(A) and even before this Tribunal also no material has been placed suggesting that the assessee has incurred the said expenditure. Under these facts, we do not see any reason to interfere with the orders of the authorities below on this issue. - Decided against assessee.
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