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

M/s. Devsharda Developers Pvt. Ltd. Versus ITO RG 9 (1) -3, Mumbai

2017 (7) TMI 495 - ITAT MUMBAI

Unexplained expenditure u/s 69C - Held that:- From the order of the lower authorities it is not clear as to whether AO has called for the concerned persons to whom interest was alleged to be paid and from whom loan was alleged to be received by the assessee. Merely on the basis of paper seized, the AO came to the conclusion that assessee had paid the interest without recording the same in its regular books of accounts. In view of the above discussion, we set aside the order of the lower authorit .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

en received. Appeal of the assessee is allowed in part for statistical purposes. - ITA No. 7809/Mum/2011 - Dated:- 9-6-2017 - Shri R. C. Sharma, AM And Shri Ravish Sood, JM Assessee by : Shri Kiran Mehta Revenue by :Shri Saurabh Deshpande ORDER Per R. C. Sharma ( A. M ) This is an appeal filed by the assessee against the order of CIT(A)-19, Mumbai dated 20/09/2011 in the matter of order passed u/s. 143(3) of the IT Act. 2. Following grounds have been taken by the assessee:- (1) On the facts and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

were taken by the M/s Charkop Shantidoot Co-op Housing Society and therefore the payment of interest and its explanation ought to have been considered in the case of the society and not in the case of the appellant. 3. The only substantive issue involved in this appeal is an addition of ₹ 572,930 made u/s 69C. 4. Rival contentions have been heard and record perused. Facts in brief are that there was a survey on the business premises of the assessee. Based on the papers seized in the course .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

uthorities the Assessee had submitted that the papers seized from him only represented interest working. The loans in reference were taken by Charkop Shantidoot Co-op. HSL (hereinafter called Society) and the interest was also paid by the said Society and such interest payments as also concerned Loans were indeed reflected in the Books of the Society. In support of this contention, learned AR invited our attention to the copies of ledger accounts of the parties in the books of the Society showin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Forum
what is new what is new
  ↓     bird's eye view     ↓  


|| 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