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The Exchange Agencies Versus Income Tax Officer, Ward-20 (2) , New Delhi

2015 (8) TMI 122 - ITAT DELHI

Disallowance of brought forward business loss/ unabsorbed deprecation - Assessee has filed the Application u/s. 154 - Held that:- We are of the view that assessee has elaborately disclosed in the Application u/s. 154 of the I.T. Act to the AO regarding income assessed by the AO as well as the income declared by the assessee. In the Application, the Assessee’s Authorised Representative has submitted that the assessee is in receipt of assessment order wherein income declared by the assessee (befor .....

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on of the assessee. Thus the issue involved regarding the disallowances of brought forward business loss/ unabsorbed deprecation are required to be reexamined at the level of the AO. Therefore, we set aside the issue involved to the file of the AO to decide the same afresh, under the law, after giving adequate opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes.

Adhoc disallowance on account of telephone expenses and vehicle expenses - .....

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n the case of the assessee - Decided in favour of assessee. - ITA No. 3352/Del/2013 - Dated:- 24-6-2015 - H S Sidhu, JM And J S Reddy, AM,JJ. For the Appellant : Shri Lalita Krishnamurty, CA For the Respondent : Shri J P Chandrekar, Sr DR ORDER Per H. S. Sidhu, JM. This appeal by the Assessee is directed against the Order of the Ld. Commissioner of Income Tax (Appeals)-XXII, New Delhi dated 30.3.2013 pertaining to assessment years 2009-10. 2. The grounds raised by the Assessee reads as under:- 1 .....

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24,334/- @20% of claim is arbitrary, unjust and at any rate very excessive compared to previous years more particularly FBT had been paid on such expenses in the relevant year. 4. That the sustaining of adhoc disallowance of vehicle maintenance of ₹ 1,18,400/- @20% of claim is arbitrary, unjust and at any rate very excessive compared to previous years more particularly when FBT has been paid on such expense in the relevant year. 5. That the Assessing Officer be directed to grant consequen .....

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t. The case was selected for scrutiny and first notice u/s. 143(2) was issued 15.9.2010, which was served upon the assessee through speed post. In response to notices issued u/s. 143(2) and 142(1) Smt. Lalita Krishnamurthy, CA attended the proceedings from time to time. In this case the assessee firm derives from distribution of bread manufactured by Britannia Industries Ltd. as in the past. The assessee has claimed bread dealer discount of ₹ 45,70,903/- to various dealers, which includes .....

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24,334/-, which were added to the total income and also disallowed the claim of brought forwarded losses and completed the assessment u/s. 143(3) of the I.T. Act, 1961 vide order dated 29.11.2011. 4. Aggrieved with the aforesaid assessment order dated 29.11.2011, assessee appealed before the Ld. CIT(A), who vide impugned order 30.3.2013 has partly allowed the appeal of the assessee. 5. Against the aforesaid order of the ld. CIT(A), assessee is in appeal before the Tribunal. 6. Ld. Authorised Rep .....

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2,363/- as per the Revised Return and not ₹ 13,10,582/- taken in the assessment order. As regards the other disallowances on account of telephone expenses and vehicle expenses, she stated that these disallowances are not warranted in view of the decision of the ITAT, Mumbai Bench in the case of SGS India Private Limited vs. Addl. CIT in ITA No. 3499/Mum/2011. Finally, she stated that the issue involved in ground no. 1 and 2 requires reconsideration at the level of the AO, because the Asses .....

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in the case of SGS India Private Limited vs. Addl. CIT in ITA No. 3499/Mum/2011 and the issue involved in ground no. 5 regarding the interest charged u/s. 234B & 234D are consequential. 7. On the contrary, Ld. Departmental Representative relied upon the order of the Ld. First Appellate Authority. 8. We have heard both the counsel and perused the records available on record, especially the orders of the revenue authorities and we are of the view that the assessee has filed a Paper Book conta .....

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wherein income declared by the assessee (before adjustment of brought forward losses/unabsorbed deprecation claimed of ₹ 10,52,533/-) has been shown in the last page of the assessment order at ₹ 13,10,582/-. Whereas the income declared by the assessee before such adjustment (as per computation filed undercover with letter dated 28.5.2011) is ₹ 11,72,363/-. The Assessee has also enclosed the computation of income for the assessment years 2005-06, 2006-07, 2007-08 & 2008-09 .....

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