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2019 (8) TMI 1055 - AT - Income TaxUnexplained credit balance - HELD THAT:- As submitted that these balances relate to earlier years and assessee has repaid the amount in subsequent years. This fact, in our view, requires verification at the end of the A.O. Hence, the issue of credit balance related to Navin & Com. Bhanpura, Maa Annapurna Traders, Pachor and Ajay Prahalad Aggarwal, Garoth is restored to the file of the A.O. for decision afresh. A.O. to verify claim of the assessee whether credit balances are related to earlier years and those have been repaid in the subsequent years. If this fact is found to be correct, the A.O. would delete the additions. These grounds of the assessee’s appeal are allowed for statistical purposes. Disallowance of depreciation claimed on vehicles for want of log book - HELD THAT:- As stated that both the A.O. and the CIT(A) failed to appreciate that depreciation allowance is a statutory allowance and no disallowance could have been made by the A.O. specially without there being any positive evidence of personal use of vehicles by the authority. D.R. supported the orders of the authorities below and submitted that the claim of depreciation is made by the assessee. It was required to demonstrate that the vehicle has been used wholly and exclusively for the business purposes. In the absence of such evidence, it cannot be inferred that the vehicle was not used for personal use. The assessee has not brought any material on record suggesting that the vehicle was used exclusively for the business purposes. In the absence of such evidence, the inference drawn by the authorities below is correct. No interference is called for. This ground of the assessee’s appeal is rejected.
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