Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

Latest Case Laws

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2018 (2) TMI 519

to the assessee as both the service and escort charges were shown separately in profit and loss account on net basis. - Dis-allowance out of certain expenses on the basis of certain discrepancies found therein - A.O. has disallowed a percentage of such expenses on the ground that most of these expenses have been incurred in cash and the vouchers have been prepared in one handwriting - Held that:- Both of such observation were found incorrect because while such amounts were expended both by cash and cheque, the vouchers were prepared by computers and handwritten vouchers were in many handwritings. Entries on each voucher are narrative which includes transaction detail, type of work & L.R. No. of each transaction. Payment of appellant in .....

X X X X X X X

Full Text of the Document

X X X X X X X

; 15 lakhs by account payee cheques. She is assessed to tax since 1987-88. During the assessment as well as in appeal proceedings, the documents relating to the creditor Mrs. Purnima Tiwari like confirmation, PAN Card, copy of ITR, computation of income, capital account and balance sheet and also the letter from the depositor to explain the source of deposit were filed. Copy of the bank statement, ledger account of the assessee in her (creditor) books of accounts were also filed. In addition to this, bank statements of the assessee for the relevant period was also submitted. 4. Considering the aforesaid, the learned tribunal has held that the assessee has received the loan of ₹ 15.00 lakhs from Mrs. Purnima Tiwari. She was assessed to .....

X X X X X X X

Full Text of the Document

X X X X X X X

the total receipt shown in profit and loss account was only ₹ 4,89,35,480/- out of which transportation and hosting receipt is ₹ 4,88,16,984/- whereas, as per form 26AS of the company total receipt were ₹ 5,40,59451/-. The Assessing Officer added difference of these two amounts in absence of justification of difference. His contention was that both the service tax and escort charges of net basis are shown separately in the profit and loss account on net basis are shown separately in profit and loss account and an unexplained difference was of ₹ 60,714/- in the figure of sales, which as per books of accounts are ₹ 5,39,93,738/- and as per form no.26AS they are ₹ 5,40,54,452/-. 7. Considering the aforesaid .....

X X X X X X X

Full Text of the Document

X X X X X X X

AS they are ₹ 5,40,54,452/-. Hence out of addition of ₹ 51,18,971/- only addition of ₹ 60,714/- is sustained and balance addition is deleted. As a result Gr.No.1 of appeal is partly allowed. 8. Learned ITAT gave the following finding in para 6 and 7, which reads as under :- 6. In the revenue's appeal in ground nos.1 and 2 the issue involved is against deleting the addition of ₹ 50,58,257/- made on account of receipts not recorded in the books of accounts. 7. Before us it was submitted that the Assessing Officer's contention regarding not recording the receipts of ₹ 50,58,257/- in the books of accounts is completely wrong. The assessee furnished complete details and explained the same also. The Assessing .....

X X X X X X X

Full Text of the Document

X X X X X X X

inst addition of ₹ 2,20,775/- from cartage and coolie expenses and ₹ 15,79,120/- from hosting and handling expenses, on percentage basis, on the ground of genuineness of expenses. 8. Appellant is into business of handling transportation lifting and placing various mobile towers, plant and machinery, telephone exchange etc. of Idea Cellular. In this business both cargage and Coolie expenses and hosting and handling charges are essential components of business of appellant. A.O. has disallowed a percentage of such expenses on the ground that most of these expenses have been incurred in cash and the vouchers have been prepared in one handwriting. Both of such observation were found incorrect because while such amounts were expended .....

X X X X X X X

Full Text of the Document

X X X X X X X

of these additional evidences, which were managed and prepared subsequently. 12. Per contra, the stand of Shri P. Choudhary, learned Senior counsel for the respondent that copies of these documents were supplied to the department and that the same records have already been produced before the Assessing Office during the course of hearing on 19.12.2012. Even otherwise, the first appellate court is a fact finding court. All these questions have already been examined by the first appellate court and thereafter, he passed the order. 13. On due consideration of the reasoning assigned by the learned Commissioner of Income Tax (Appeals) - I, Indore and the learned ITAT, we are of the view that no substantial question of law arise in this appeal. .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

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

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||