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2021 (2) TMI 61 - ITAT MUMBAICessation of liabilities u/s 41(1) - the trade liabilities payable by the assessee exist from the earlier years and are disclosed in the financial statements - CIT-A enhancing and confirming the addition - HELD THAT:- Trade liabilities are carried forwarded in the books of accounts from the earlier years and the assessee is liable for payment to the Creditors and substantiated with the details. We find the assessee has not written off the liabilities as no longer required in the books of account - on perusal of assessment order, we find that the A.O. has neither recorded satisfaction for making disallowance or made enquires on trade creditors nor supported with any evidence that the trade liabilities are no longer payable by the Assessee. Accordingly, we set aside the order of the CIT(A) on this disputed issue and direct the Assessing officer to delete the addition. Disallowance of Franking, processing and registration charges - whether they are wholly incurred for the purpose of business - AR has substantiated his arguments with the details along with registration charges and sanction letters of the banks substantiating that the said amount are revenue expenditure - HELD THAT:- We considering the facts and the material find that these details are to be verified and examined. Accordingly, we remit this disputed issue to the file of the Assessing officer for limited purpose for verification. The assessee should be provided with adequate opportunity of hearing and shall cooperate in submitting the information and allow the grounds of appeal for statistical purpose
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