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2015 (10) TMI 1869 - AT - Income TaxDisallowance at 25% of the purchases and all expenses including depreciation - CIT(A) deleted the addition - Held that:- Since the disallowance was made in an ex-parte assessment order, once the assessee was given an opportunity to reconcile its expenses, the Assessing Officer was satisfied with the quality of the evidence produced by the assessee. He did not find any discrepancies (as disclosed from his observation) in the purchases and commission payment shown by the assessee. Therefore, we do not find any error in the order of the CIT(A); accordingly, this ground of appeal is rejected. - Decided against revenue. Addition on estimated basis out of "commission income" - CIT(A) deleted the addition - Held that:- The commission income is verifiable from the TDS certificate and, therefore, estimate of such income at lumsum amount is not required and, therefore, the addition of ₹ 1,33,679/- is hereby deleted. - Decided against revenue. Addition u/s 68 - CIT(A) deleted the addition - Held that:- In the remand proceedings, the assessee has substantiated that this amount represents the loan taken from ICICI Bank Ltd for the purpose of vehicle. There is no unexplained credit in the account of the assessee. Ld. First Appellate Authority has deleted the addition after appreciating the remand report and the evidences produced by the assessee. Therefore, we do not find any error in the order of the CIT(A) - Decided against revenue. Addition
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