2013 (8) TMI 1016

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..... y the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-VII, New Delhi dated 24.6.2011 pertaining to assessment year 2008-09. 2. The issue raised in the appeal is that Ld. Commissioner of Income Tax (A) erred in deleting the addition of Rs. 14,74,375/-. 3. In this case it was observed by the Assessing Officer that assessee had shown two kinds of receipts viz. .....

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..... d and added back to the total income of the assessee. 4. Upon assessee's appeal Ld. Commissioner of Income Tax (A) noted that Assessing Officer has not brought anything on record that assessee company closed its business. Ld. Commissioner of Income Tax (A) opined that if the assessee did not carry out business activity during the year under consideration, at best that could be case of tempora .....

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..... 1 also revealed that assessee has derived income from business activity. Hence, Ld. Commissioner of Income Tax (A) held that addition of Rs. 14,74,375/- was liable to be deleted. 5. Against the above order the Revenue is in appeal before us. 6. We have heard both the counsel and perused the records. Ld. Departmental Representative submitted that assessee has not done any business during the year .....

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..... essee pleaded that Ld. Commissioner of Income Tax (A)'s order be upheld. 6.1 We have carefully considered the submissions. We find that the nature of expenses claimed in this regard related to items such as audit fees, salaries, professional charges, insurance, printing and stationery, bank charges, house keeping expenses, repair and maintenance expenses. These expenses in our considered opin .....

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..... as held that assessee was a corporate entity and did not carry any business during assessment year under consideration. It was held that expenses incurred by the assessee to keep its corporate entity are allowable. In the background of the aforesaid discussion and precedent, we do not find any infirmity in the order of the Ld. Commissioner of Income Tax (A). Accordingly, we uphold the same. 7. In .....

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