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2023 (7) TMI 1277 - AT - Income TaxAddition u/s 69A or 69C - WhatsApp documents relied upon - no entry about the interest component in the books of assessee - HELD THAT:- There is no rebuttal of the finding of the AO that there is no entry about the interest component in the books of assessee. When this document was sent by one K.V. Rao Director of assessee acknowledged the same. Further, as rightly pointed out by the CIT(A), the details to be found in this WhatsApp document tallies with the dates of borrowings as admitted by the assessee in its books of accounts. We, therefore, are of the considered opinion that undoubtedly, this is an incriminatory material, and it is not open for the assessee to challenge the reliance of Revenue on this document, without explaining the existence of contents of the document. Quantum of addition - when the document itself reads that the payment of interest was only Rs. 1 crore and the balance of Rs. 1,62,85,178/- was clearly shown therein, Revenue may accept or reject the document as a whole. They cannot say that this document proves the charging of interest and its rate, but ignore the payment of Rs. 1 crore alone. Revenue is accepting the rate of interest and charging thereof, but they are not accepting the quantum of payment. It is impermissible. Revenue has to accept or reject the documents as a whole. Since we are of the considered opinion that this document cannot be thrown away without consideration, we accept the same as a whole and reach a conclusion that the assessee paid interest only in part to the tune of Rs. 1 crore and the balance of liability is Rs. 1,62,85,178/-. With that view of the matter, we sustain the addition only to the tune of Rs. 1 crore, which is an interest expense, not to be found in the books and direct the learned Assessing Officer to delete the balance. Appeal of the assessee is partly allowed.
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