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2015 (9) TMI 1108 - AT - Income TaxAddition u/s. 41(1) as cessation of liability - CIT(A) deleted the addition - Held that:- CIT (A) while deleting the addition has noted that the issue in the present case was covered by the decision of Shri Govindbhai C. Patel vs. DCIT [2009 (10) TMI 637 - ITAT AHMEDABAD]. Before us the Revenue has not brought any contrary binding decision in its support nor could point out any fallacy in the order of CIT (A). We therefore find no reason to interfere with the order of CIT (A). - Decided against revenue. Addition as estimated interest on diversion of funds - CIT(A) deleted the addition - Held that:- CIT (A) while deleting the addition has noted that the conclusion of the A.O. of diversion of funds by the assessee is not supported by facts and has further given a finding that during the year no withdrawals have been made by the partners and neither any loans were taken by the assessee and no effective interest deduction has been claimed by the assessee. Before us, Revenue has not brought any material on record to controvert the findings of the CIT (A). In view of the aforesaid, we find no reason to interfere with the order of the CIT (A) - Decided against revenue.
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