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2015 (12) TMI 1413 - AT - Income TaxUndisclosed income - Held that:- The assessee submits that this addition sum comprises of access money collection of ₹ 2,02,350/- as per a diary seized . The same is stated to have been received from four parties namely; Prasam Hajarnis, Mrs Anila, Mr. Dinesh, Mr. Kaushik and Mr. Jai Prakash to the tune of ₹ 20,750/- each in first two cases and ₹ 95,125/- , ₹ 45,125/- and ₹ 20,600/- respectively. These figures form part of record Annexure A- 4 page 65 of the paper book. The assessee claims to have returned these sums back to its above stated parties. We put up a specific query in the course of hearing as to whether it had filed any material on record in the shape of seized diary or other evidence proving the same. The reply given is in negative. This leads us to a conclusion that since the impugned excess collection is proved without any rebuttal of its being returned back to the payers, the Assessing Officer has rightly made the corresponding addition of ₹ 2,02,350/- in assessee’s case. - Decided against assessee Disallowance of expenditure - Held that:- The Assessing Officer has accepted assessee’s expenses claimed regarding brokerage, misc. items and the once pertaining to specific payees in question. The assessee takes us to paper book containing names of four parties to have received the same. However, we do not find any vouchers, bills, and other documentary evidence forthcoming from the case file. The same appears to be the reason on Assessing Officer’s part in disallowing these expenses. This position continues before us as well. We uphold the Assessing Officer’s corresponding findings and hold that the assessee has not been able to substantiate its expenditure claim - Decided against assessee
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