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2016 (11) TMI 1650 - AT - Income TaxDisallowance of expenditure - Income is taxed out information arising out of seized material - HELD THAT:- Details were furnished regarding expenses of ₹ 35.00 lakhs before the AO and the ld. CIT(A) also. The claim of expenses of ₹ 35.00 lakhs is against unaccounted receipts as per the same seized material of ₹ 156.12 lakhs as noted by the CIT (A) in para-3 reproduced above. This is not the case of AO that this claim of the assessee regarding expenses of ₹ 35.00 lakhs against unaccounted receipt of ₹ 156.00 lakhs is excessive or unreasonable. The objection is regarding supporting evidence. Un-accounted expenditure, supporting evidences may not be available in most of the cases but since the expenses are noted in the same seized material as per which the receipt is being taxed of ₹ 156.00 lakhs and the claim of such expenses is not excessive and unreasonable and no specific defect has been pointed out by the authorities below in the claim except asking for supporting evidence, we are of the considered opinion, that the assessee was able to establish the incurring of expenditure by way of notings in the seized material and furnishing of the details of the expenses item wise and this is not the case of the revenue that such details are not as per the notings in the seized material. Hence, we delete this disallowance. Accordingly, ground no.2 to 4 are allowed.
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