9911796707
TMI Blog2014 (6) TMI 221X X X X Extracts X X X X X X X X Extracts X X X X ..... s an assessee appeal against the order of Ld. CIT(A)-II, Hyderabad dated 05.12.2013. Assessee in this appeal is contesting claim of interest of Rs.7,18,252/- and salary payment of Rs.2,81,700/- disallowed by A.O. and confirmed by Ld. CIT(A). 2. Facts leading to the present appeal are that assessee is a company which has not filed return in the impugned year. A survey operation under section 133A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 30,000 f. Gurucharan Singh Rs. 30,000 g. Rateen Rs. 33,675 h. Bank of India Rs. 27 i. Kuldeep Rs. 40,000 j. Prudhviraj Rs. 67,350 Total Rs.7,18,252 3. In addition, the salary and bonus claim of Rs.2,81,700/- was also disallowed on the reason of nonproduction of books of accounts and evidences thereon. 4. Ld. CIT(A) after obtaining a remand report from A.O. who subjected the share a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... salaries and wages. 7. We have considered the rival contentions and examined the record. A.O. did disallow the interest even though assessee has deducted the tax on the said amounts as per the provisions of TDS. His reasoning was that the loans were obtained in two firms names whereas the interest was paid to individuals, the details of which were extracted above. Before the Ld. CIT(A) assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hem were filed, we are unable to allow the amount as such in the absence of their individual investments and the interest calculation of amount claimed. Moreover, assessee has not placed either the annual report or the computation of income before us. Therefore, whether the interest is to be allowed as a business expenditure or expenditure relating to earning any interest under the head "Other Sou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of any evidence on record that these details are furnished before the authorities, we cannot allow the expenditure without getting it verified by the A.O. In the result, we are of the opinion that these two amounts are required to be verified by the A.O. and then allow as per law and facts. The orders of AO and CIT(A) on these issues are set aside to be redone according to facts and law. With ..... X X X X Extracts X X X X X X X X Extracts X X X X
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