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2017 (9) TMI 1347 - AT - Income TaxUnexplained cash credits - addition u/s 68 - Held that:- Appellant has discharged the onus placed upon him u/s 68 as filed complete details of confirmation of the creditors, copy of the bank account, copy of the ledger accounts and other details etc. - Decided in favour of assessee Disallowance of depreciation on air conditioners - use for non business purposes - Held that:- It is sufficient to place on record the purchase bills but some evidence suggesting that assets was to be use for business purpose in the absence of such evidence in our view, no depreciation cannot be allowed. Therefore, the finding of the Ld. CIT(A) on this issue is reversed and the finding of the AO is restored. Thus, Ground of the revenue is allowed. Disallowance on account of building repair expenses - Held that:- Appellant has been able to prove that expenses were incurred on repairs, payments have been made through the banking channels and TDS was made on such payments and therefore, there is no justification in making a disallowance under this head. As regards, the value of opening WDV of the block is concerned it is only a depreciated book value and thus, the amount of repairs being too high cannot be a ground for making the disallowance - Decided in favour of assessee Disallowance made by the AO on account of unexplained cash deposits -Held that:- Entries have been made in the capital account of Smt. Kamla Lamba of ₹ 19,41,192 and also the corresponding entries were made in the cash account and of M/s K.C. Industries, a sundry creditor. Therefore, the availability of cash in hand was increased on 01.04.2010 after reversing these entries in the books of accounts. In view of these facts, hold that cash deposits were made out of the balance available in the books of accounts. Thus,find no justification in the action of the AO and delete the addition - Decided in favour of assessee
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