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TMI Blog2015 (9) TMI 1729X X X X Extracts X X X X X X X X Extracts X X X X ..... n into consideration submission dated 24.06.2010. 3. This ground was not pressed by the learned Counsel for the assessee at the time of hearing before us; accordingly, the same is rejected as not pressed. 3. Ground No.2 of the assessee's appeal reads as under:- (II) Addition of unsecured Loans - Rs.29,80,000/- (1) The learned Commissioner of Income-tax (Appeals) has erred in sustaining addition of Rs.29,80,000/- in respect of eleven depositors when the appellant had furnished necessary evidences regarding identity and credit worthiness of the depositors. In the background of the above evidences, the learned Commissioner of Income-tax (Appeals) ought to have deleted the addition. (2) The sustainability of this addition should have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned Departmental Representative that the facts in the assessee's case is different than the facts before the Hon'ble Apex Court in the case of Orissa Corporation (P) Ltd (supra). In the case of the assessee, the cash is deposited in the bank account of the creditors by the Accountant of the assessee. It was also admitted by him that such cash was deposited at the instruction of the partner of the assessee-firm. In the above circumstances, it was essential to ascertain whether the cash deposited by the Accountant of the assessee in the accounts of the creditor was given by the creditor or by the assessee. In view of these peculiar facts, recording of the statement of the creditor was essential. 5. After considering the facts of the case and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the acceptance or otherwise of the cash credit. We, therefore, set aside the orders of the authorities below on this point also and restore the matter back to the file of the Assessing Officer to be re-adjudicated along with the issue of addition for cash credit. 8. Ground No.4 of the assessee's appeal is against the 20% disallowance out of telephone expenditure. 9. We have heard both the parties and perused the material placed before us. Assessee is a partnership firm. The personal use of telephone by the partners cannot be ruled out. However, we deem it proper to reduce the disallowance to ⅙ (one sixth) as against 20% made by the Assessing Officer. 10. Ground No.5 is against the charging of interest u/s 234B/C/D. This is admitte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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