Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Dr. B. Narsaiah Versus The Deputy Commissioner of Income Tax, Central Circle-2, Hyderabad

2015 (9) TMI 1241 - ITAT HYDERABAD

Assessments u/s 153A - Held that:- In cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which were subsisting when the search was made, the Assessing Officer would be competent to reopen the assessment proceeding already made and determine the total income of the Assessee. The Assessing Officer, while exercising the power under Section 153A of the Act, would make assessment and compute the total income of the Assessee inclu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

return of income for respective assessment years together with statement of facts. It is also a contention that a further loan of ₹ 5 Lakhs advanced by the same person in the subsequent year has been accepted by the AO as genuine credit. Considering these facts, we are of the opinion that the credit received long back has to be accepted as genuine one. Like-wise, in the case of D Venumadhav also there is no dispute with reference to the identity of the person and employment with M/s. Adit .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ake any enquiries with the said persons nor having any incriminating material in the course of search proceedings. In view of this, AO is directed to delete the additions so made. Assessee’s grounds on this issue in AY. 2004-05 are allowed. - Decided in favour of assessee.

Disallowance of Expenditure - Held that:- There is no need to disallow any expenditure claimed in the course of assessee’s profession. Considering that assessee is a consultant surgeon and the hospital also certifie .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ure can be disallowed out of the salary claimed and accordingly, assessee’s grounds are allowed. AO is directed to delete the disallowance so made in all the impugned assessment years.- Decided in favour of assessee.

Disallowance of vehicle maintenance and depreciation - Held that:- As far as depreciation in AY. 2006-07 is concerned, since the date of purchase is required to be examined for allowing depreciation in that year as directed by the CIT(A), AO is directed to examine the dat .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

are used for the profession on which there is no dispute, disallowance of depreciation U/s. 32 cannot be considered except on the basis of usage in the year whether use of full year or part of the year as per the provisions of Section 32. Since depreciation is allowable U/s. 32, the general provision of 37(1) cannot be invoked. In view of this, disallowance of 50% of depreciation for personal use cannot be done as per the provisions of the Act. - Decided in favour of assessee.

Disallo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ich are not examined in the original assessment and in this case, there seems to be no assessments U/s. 143(3) earlier. Following the principles laid down by the Hon'ble Allahabad High Court in the case of Rajkumar Arora [2014 (10) TMI 255 - ALLAHABAD HIGH COURT] we are of the opinion that AO can examine the vehicle maintenance claimed in the re-assessment. Accordingly, we restrict the expenditure disallowance to 10% being personal in nature U/s. 37(1). Balance of the expenditure is allowable - .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

uspicion however strong cannot be a substitute for evidence. No addition can be made only on the basis of presumptions and surmises. In the facts of the present case, we are of the view that adequate evidence or material have not been brought on record to conclusively prove the fact that the assessee has received cash payments as mentioned in the seized material. Accordingly, addition cannot be sustained. - Decided in favour of assessee. - ITA No. 812, 813, 814, 815, 816, 817, 818/Hyd/2014 - D .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

come in appeal on the relief granted by the CIT(A). We have heard Ld Counsel and Ld.DR over a period of time and also sought clarifications. These are considered along with the paper book placed on record and written submissions. 2. Briefly stated, there was a search and seizure operation u/s. 132 of the Income Tax Act [Act] at M/s. Aditya Hospital, Hyderabad and also residential premises of assessee on 25-03-2010. Assessee is a visiting consultant general surgeon to M/s. Aditya Hospital. For t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d that he has received moneys by way of cheque only and he requires time to examine other documents. Consequent to search, proceedings u/s. 153A were initiated for the impugned assessment years and apart from certain disallowances and additions u/s. 68 in other years, major additions were made in AY. 2009-10 and 2010-11 on the basis of the said HMS package, wherein Assessing Officer (AO) was of the opinion that assessee was paid substantial amounts which were not accounted by assessee. AO, after .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

1, HMS package indicated payment of ₹ 1,74,01,698/-, whereas assessee admitted ₹ 42,21,831/-. The difference of ₹ 1,31,79,867/- was brought to tax. In other years, there were disallowances of salaries, vehicles maintenance etc., made by the AO which are partly confirmed by the Ld. CIT(A). Apart from that, certain un-secured loans obtained by assessee were also brought to tax as un-explained credits in AY.2004-05 which are partly confirmed by the CIT(A). In all the above issues, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nd more so, when assessments were not pending as on the date of search . Apart from the above common ground, assessee has raised additional grounds and the material ground out of the additional grounds 9 is as under: Ld. CIT(A) ought to have deleted all the additions which are general in nature in the assessment order u/s. 143(3) r.w.s. 153A made in the absence of any seized or incriminating material or documents found in the search conducted u/s. 132 of the Act on 25-03-2010 and when the assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ted that the search was conducted in the premises of assessee and certain incriminating materials as well as cash and jewellery were seized. Consequently, proceedings u/s. 153A are mandatory and accordingly, notices were issued for all the impugned assessment years. The provisions of Section 153A are as under: 153A. (1) Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139; (b) assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made : Provided that the Assessing Officer shall assess or reassess the total income in respect of each assessment year falling within such six ass .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d under the second proviso), specify the class or classes of cases in which the Assessing Officer shall not be required to issue notice for assessing or reassessing the total income for six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or requisition is made. (2) If any proceeding initiated or any order of assessment or reassessment made under sub-section (1) has been annulled in appeal or any other legal proceeding, then, n .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

save as otherwise provided in this section, section 153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year. . 6. Thus, as per the provisions, issuance of notices for six assessment years and completion of assessments are mandatory. The Hon ble Allahabad High Co .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e u/s. 153A-During course of assessment proceedings AO found that gift received by minor children from various persons was sham transaction and that Assessee failed to prove genuineness of those gifts-AO made addition while completing assessment u/s. 153A-CIT(A) allowed Appeal of Assessee on ground that transaction of gift had taken place through banking channel where date, mode of payment and other details was duly recorded-ITAT held that since no incriminating materials in relation to gift dee .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

assessment proceedings had already been completed and assessment orders passed, then AO would be competent to reopen assessment proceeding already made-Reasons given by ITAT that no material was found during search could not be sustained-Addition made by AO found to be proper-Revenue's Appeal allowed. Held Only the undisclosed income found during the search and seizure operation were required to be assessed and the regular assessment proceedings were preserved. The introduction of Section 15 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ection 143(3) of the Act, the Assessing Officer would be required to reopen these proceedings and reassess the total income taking notice of undisclosed income even found during the search and seizure operation. The fetter imposed upon the Assessing Officer under Sections 147 and 148 of the Act have been removed by the non obstante clause under Section 153A of the Act. 6.1 Consequently, High Court are of the opinion that in cases where the assessment or reassessment proceedings have already been .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

stood processed under Section 143(1)(a) of the Act. 7. Keeping the principles laid down on the subject and the provisions of law, we are of the opinion that there is no merit in assessee s contentions raised in the above grounds. Accordingly, the grounds are rejected. Appeals in AYs. 2004-05 to 2008-09: 8. In all the above appeals, the assessment orders were passed by the AO in pursuance of the notices and the returns of income are filed in response to notice u/s. 153A, even though no incrimina .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

1,91,788 2007-08 02-11-07 19,74,380 2,89,950 11-11-10 29,86,074 2008-09 30-09-08 13,99,560 4,64,425 11-11-10 54,10,223 8.1 AO as briefly stated has made additions of certain cash credits and disallowances of salary, depreciation on vehicles and maintenance in above assessment years. Un-explained Loans: 9. In AYs. 2004-05 and 2005-06 an amount of ₹ 7 Lakhs loans received each were considered as un-explained cash credits. Ld CIT(A) gave relief in AY 2005-06 where as the addition in AY 2004-0 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

urn filed by the creditor has been furnished in proof. It is observed that the contractor has not maintained any Books of Account and not informed to the department about the loan and also not explained the mode of receipt i.e., whether by cash or through bank. Stating so the loan was not accepted by AO. In respect of a loan from D. Venu Madhav, AO was of the opinion that assessee has not proved the creditworthiness i.e., as per the returns of income of Mr. Venu Madhav, the income returned is &# .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ent year together with Statement of Affairs as filed along with the return of income with the Income Tax Department by the Loan Creditor. Further, assessee stated that the said loan creditor had further advanced a sum of ₹ 5,00,000/- to him in the subsequent assessment year which has been accepted by the same AO. 9.3 Further, assessee stated that he had taken a loan of ₹ 1,00,000/- from D. Venu Madhav and submitted copies of returns of income of the loan creditor for the assessment y .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(A) confirmed the above ₹ 7 Lakhs in AY. 2004-05 agreeing with AO s contentions. 10. After considering the rival contentions and perusing the paper book, we are of the opinion that loan credits from Tandu Srinivas and D. Venu Madhav are to be accepted as genuine. In fact as seen from the impounding orders u/s. 132(3) of the Act issued on 24-03-2010 to the Manager SBI, Chikkadapally Branch by the Dy. Director of Income Tax, (Investigation) placed at page 3 of the paper book, it indicates th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Srinivas has to be accepted as a genuine claim considering that bank account of the said person were also available in the searched premises i.e., residents of assessee. As far as the credit is concerned, assessee has filed necessary confirmations, statement of return of income for respective assessment years together with statement of facts. It is also a contention that a further loan of ₹ 5 Lakhs advanced by the same person in the subsequent year has been accepted by the AO as genuine cr .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

a genuine person has to be considered in verifying the creditworthiness of the person. Considering the facts of the case and amount involved, we are of the opinion that credit from Shri D. Venu Madhav also has to be considered as genuine one. AO also did not make any enquiries with the said persons nor having any incriminating material in the course of search proceedings. In view of this, AO is directed to delete the additions so made. Assessee s grounds on this issue in AY. 2004-05 are allowed .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r and the names of the persons are constantly changing. While explaining the reasonableness of the expenditure, it has been claimed that assessee is a surgeon and requires a team of doctors to support him for after care in the hospitals. AO did not agree stating that even if the contention of assessee is accepted, the other factors have also to be taken into consideration. Those factors are that assessee is rendering his service in well established corporate hospitals and also provides after car .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

01,254/- = ₹ 4,50,627/- for AY.2005-06; 50% of ₹ 10,88,861=Rs.5,44,430/- for AY. 2006-07; 50% of ₹ 11,61,076 = ₹ 5,80,538/- for AY. 2007-08 and 50% of ₹ 12,48,270 = ₹ 6,24,135/- for AY. 2008-09 and added to the returned income. 12. Assessee before the CIT(A) stated that he is a surgeon by profession and requires entire team consisting of medical, para-medical, support staff etc. for performance of surgery and related matters for which he has to pay salary. Thi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

assessee stated that he had duly recorded all the payments in the Books of Accounts and it is his prerogative to decide the quantum of salaries to his staff. In this connection, assessee relied upon on the judgment of Hon'ble Supreme Court in the case of CIT Vs. Dhanrajgirji Raja Narsingh Girji (1973) [91 ITR 544] SC. 13. Ld. CIT(A) considered the issue as under: 12.0 I have gone through the assessment order and written submissions of the appellant. It may be noted that the appellant submitt .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ara-medical staff who assist him in surgeries, emergencies who were paid exclusively by the appellant. But, considering the receipt of professional fee shown by the appellant, the amount of salaries paid appears to be on higher side and at the same time the disallowance made by the Assessing Officer also appears to be unreasonable. Considering the nature of expenses and nonproduction of any confirmations from the third parties by the appellant, some disallowance is needed and to meet the ends of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

which factor is also agreed by the Ld. CIT(A) we are of the opinion that there is no need to disallow any expenditure which was claimed in the original returns of income. There is no incriminating material found and assessee cannot be expected to produce the vouchers and persons after lapse of sufficient time when assessee s returns originally filed were accepted without any scrutiny. In view of this, we are of the opinion that no expenditure can be disallowed out of the salary claimed and accor .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ble. Further, he was of the opinion that assessee s professional work requires to move around in very reasonable area as he is residing very close to the hospitals in which he is providing consultancy and does not require so many vehicles and maintenance. With that reason, he disallowed 50% of disallowance claimed in respect years and 50% of vehicle maintenance in the impugned years. The Ld. CIT(A) with reference to claim of 50% depreciation in the first year directed the AO to examine the purch .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ce stating that assessee s reasons were general in nature and she found no merit in the argument. 17. After considering the rival submissions, we are of the opinion that actions of AO and CIT(A) cannot be supported. As far as depreciation in AY. 2006-07 is concerned, since the date of purchase is required to be examined for allowing depreciation in that year as directed by the CIT(A), AO is directed to examine the date of purchase and allow depreciation as per law either at 100% of the claim or .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ciation U/s. 32 cannot be considered except on the basis of usage in the yearwhether use of full year or part of the year as per the provisions of Section 32. Since depreciation is allowable U/s. 32, the general provision of 37(1) cannot be invoked. In view of this, disallowance of 50% of depreciation for personal use cannot be done as per the provisions of the Act. Therefore, the grounds of assessee are allowed on this issue. 17.1 Now coming to the disallowance of 50% of the vehicle maintenance .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

at expenditure claimed is reasonable compared to the receipts disclosed by assessee from various hospitals. The AO cannot sit in judgment on the nature of expenditure unless he examine the expenditure on a day to day basis from the vouchers maintained. However, considering that assessee is a doctor and also a public figure some use of vehicles for personal use cannot be ruled out. Consistent with the view taken by co-ordinate Benches in number of cases, we are of the opinion that the disallowanc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

AO can examine the vehicle maintenance claimed in the re-assessment. Accordingly, we restrict the expenditure disallowance to 10% being personal in nature U/s. 37(1). Balance of the expenditure is allowable. Grounds are accordingly partially allowed in all assessment years. Additions made on the basis of Hospital Management System package: 18. As briefly stated, on the basis of the Hospital Management System package (HMS package) maintained by M/s. Aditya Hospital, AO considered that receipts to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t agree with the additions so made in that case. The contentions to summarize are as under: i. That the CD containing HMS package seized from M/s. Aditya Hospital cannot be considered as incriminating material for the purpose of making assessment in assessee s case, as the CD does not belong to assessee and it is a dumb material . ii. Assessee received sums aggregating to ₹ 19,32,240/- minus TDS of ₹ 1,99,021/- for AY. 2009-10 and ₹ 58,24,105/- minus TDS of ₹ 6,14,016/- f .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e the following amounts as cheque and cash: Asst. Year 2009-10 Asst. Year 2010-11 (as per Exhibit - I) Date Cheque (Rs) Date Cheque (Rs) 18.07.2008 7,87,527 15.04.2009 11,66,770 07.08.2008 12,64,283 30.04.2009 10,75,446 19.08.2008 2,01,300 11.06.2009 13,91,923 10.09.2008 08,83,468 08.07.2009 14,21,245 04.11.2008 02,51,955 09.08.2009 2,58,840 28.11.2008 01,89,150 25.08.2009 10,17,833 31.12.2008 1,27,715 02.09.2009 16,22,835 24.01.2009 33,000 24.09.2009 34,000 26.01.2009 01,96,700 08.10.2009 12,98 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

amount of total cheques of ₹ 49,78,144/- and ₹ 1,54,56,205/- were never received by assessee and the actual amounts received in bank account were verified by the AO which tallies with the TDS certificate. V. That AO while admitting that the cheques are not verifiable, however, relied on the HMS package without establishing that assessee has received those payments from Aditya Hospital, more particularly represented as cheque payments. vi. That AO adopted ₹ 19,13,177/- for AY. 2 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ounts were verified by the seized party and are available with the AO and no such payments as cheques as alleged in HMS package were received other than those admitted in the TDS certificates as paid to assessee. viii. That assessee gives consultation in various hospitals and the Modus operandi is that patients who come through him or others are recommended to the hospital or admitted in his name in the hospital, even though he may not render any consultation to the particular patient. Moreover, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

but there is no evidence that assessee has received so much of the amounts neither in the hospital records nor in the seized material. x. That as late as November, 2012, M/s. Aditya Hospital has certified that they have made payments to assessee only by cheques. Therefore, the alleged payments by hospital cannot be accepted as genuine payments. xi. Ultimately it was submitted that: (1) It is further submitted that it is not disputed that the seized material is nothing but an account maintained .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lusively prove that the amounts mentioned in the seized documents were actually paid to the assessee by the hospital. In fact when the assessee was confronted with the seized material and specifically asked about the payments mentioned in the seized material, the assessee denied of having received the amounts mentioned therein and asserted that whatever amounts have been received by him are mentioned in the TDS certificate and nothing more has been received by him from the hospital for both the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

oned in the seized document but has remitted only part of it to the assessee and not the entire amount. Unless there is some other evidence on record to show that the amounts mentioned in the seized material were actually paid to the assessee, it cannot be said with certainty that the assessee has actually received the amounts as mentioned in the seized document. More so, when the hospital has issued a TDS certificates for both the years under consideration mentioning the amounts actually paid t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

l or the fact that the hospital's application before the Settlement Commission has been admitted in no way proves that the assessee has actually received the amounts mentioned in the seized document, unless there are other corroborative material to prove such fact. No addition can be made only on the basis of presumptions and surmises . 19. Ld. DR while admitting that AO has expressed his inability to verify the so called cheque payments stated to have been paid by Aditya Hospital in HMS pac .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

st assessee are U/s. 153A and not U/s. 153C as was the case in the case of Dr. N. Pawan Kumar, in ITA Nos. 1568 and 1569/Hyd/2013, dt. 06-06-2014 (supra). The judicial principles on jurisdiction does not apply to assessee in whose case proceedings are u/s 153A. However, on merits, it is to be noted that the co-ordinate Bench has examined similar situation and has this to state Having held so, let us now examine whether the addition can be sustained on merits. It is not disputed that the seized m .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

there is no other documentary evidence or any other material to conclusively prove that the amounts mentioned in the seized documents was actually paid to the assessee by the hospital. In fact when the assessee was confronted with the seized material and specif ically asked about the payments mentioned in the seized material, the assessee denied of having received the amounts mentioned therein and asserted that whatever amount has been received by him is mentioned in the TDS certif icate and not .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he hospital might have received the amounts as mentioned in the seized document but has remitted only part of it to the assessee and not the entire amount. Unless there is some other evidence on record to show that the amount mentioned in the seized material was actually paid to the assessee it cannot be said with certainty that the assessee has actually received the amount0 as mentioned in the seized document. More so, when the hospital has issued a TDS certif icate mentioning the amount actual .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

that the hospital s application before the Settlement Commission has been admitted in no way proves that the assessee has actually received the amount mentioned in the seized document, unless there are other corroborative material to prove such fact. Suspicion however strong cannot be a substitute for evidence. No addition can be made only on the basis of presumptions and surmises. In the facts of the present case, we are of the view that adequate evidence or material have not been brought on re .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n those objections. However, assessee s name neither figured in Settlement Commission application nor there is any indication that payments to assessee were also included therein. Be that as it may, fundamental principle to examine in this case is whether the HMS package can be relied upon as proving the payments to assessee. 22. As contended, assessee s name might have been used as a referral name rather than a fee payment consultancy. Doctor is very popular and many of the known patients from .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tion of treatment/medicines/surgeries conducted etc. Only the treatment details may be available in the case sheet and ultimately when he is discharged, a certificate of health may also be available. Beyond that, there can be no information about financial part. In case hospital maintains anything for its own internal purposes, that cannot be attributed to the doctor, unless there is a proof of payments available in the seized material. 24. Further, it is to be noted that as per HMS package, sub .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

her than those admitted by assessee in the TDS certificates certified by Aditya Hospita. Even in the remand report, AO expresses his inability to make the verification. If the HMS package relied on by the Revenue indicates payments by cheques it is very easy to verify the payments through the Banks. There is no evidence whatso- ever of either payment by cheque to assessee or by clearance in assessee s bank amount. This itself indicate that the entries in HMS package cannot be relied upon. It is .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e No. Amount 11-06-08 ABN Amro Bank 1,40,783 12-08-08 ICICI Bank Ltd 262 3,41,344 14-08-08 SBI (Masab Tank) 255 1,02,258 01-10-08 SBI (Masab Tank) 255 1,42,500 01-10-08 SBI (Masab Tank) 255 2,86,480 30-10-08 SBI (Masab Tank) 255 2,26,044 01-12-08 ICICI Bank Ltd 263 1,69,668 28-12-09 ICICI Bank Ltd 263 1,14,560 04-02-09 ICICI Bank Ltd 263 1,76,440 04-02-09 ICICI Bank Ltd 263 33,668 Total: 17,33,077 B. Narasaiah - Statement of Reconciliation - F.Y. 2009-10 Particulars Page No. Amount Opening balan .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Ltd 265 3,55,169 07-10-09 ICICI Bank Ltd 266 3,32,718 07-10-09 ICICI Bank Ltd 266 30,148 11-11-09 ICICI Bank Ltd 266 3,05,675 03-12-09 ICICI Bank Ltd 266 1,05,606 15-12-09 ICICI Bank Ltd 266 94,837 04-01-10 SBI Masab Tank 253 38,700 25-01-10 ICICI Bank Ltd 253 3,45,877 06-02-10 ICICI Bank Ltd 267 3,47,842 08-03-10 ICICI Bank Ltd 267 1,66,860 08-03-10 ICICI Bank Ltd 267 3,00,402 Total: 38,78,402 25. Therefore, the payments received by assessee as certified by Aditya Hospital, TDS certificates wer .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

appearance before You, I once again confirm that the payments alleged to have been made to me as per Exhibit 1 is not true. A cursory glance at said exhibit would reveal that certain payments allegedly made to me are by cheque and also cash. First of all I once again confirm that I have not received any payment in cash. Secondly the alleged payments shown against me in form of cheque which are duly highlighted for easy reference do not figure in my bank accounts. As per the said exhibit sums ag .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

should figure in my bank accounts, which is not the case. All my bank accounts are available with you which can be verified. I have no other bank accounts other than what has been admitted and reflected in my Balance Sheets filed before the department and copies of which have been already given to you . 26. There is no rebuttal of assessee s contentions even by AO at the time of assessment itself. In view of the above, we are of the opinion that reliance on HMS package, without any verification .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version