TMI Blog2022 (11) TMI 878X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 43B - AO has disallowed the statutory liabilities of Service Tax and Gratuity - AO made disallowance as the assessee has failed to pay the said amount before the due date and the same is reflected in the tax audit report of the assessee in Form 3CD - HELD THAT:- As statutory liabilities were found to be outstanding before filing the return of income and the same was disallowed on the ground that the assessee has failed to furnish the details pertaining to the payment of the impugned amount before the lower authorities. The assessee has stated that it has turn NPA in August 2013 and the same was the reason for not paying the statutory dues. We find no infirmity in the order of the CIT(A) as the assessee has failed to furnish particular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there was no representation on behalf of the assessee inspite of several opportunities, we hereby proceed to decide the appeal by hearing the learned Departmental Representative (DR) and on perusal of the available materials on record. 2. The brief facts are that the assessee is a company engaged in business of providing Engineering Services and EPC Solutions. The assessee company has filed his return of income dated 30.09.2013 declaring total income of Rs.1,56,10,903/-. The assessee s case was selected for scrutiny and assessment order u/s 143(3) of the Act was passed on 29.03.2016 determining total income of Rs.4,68,69,526/- by making the impugned additions/disallowances. The assessee was in appeal before the learned CIT(A) as against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts. The AO as well as the learned CIT(A) has held that the objectives of the IPO as per the prospectus of the assessee company was for long term and the working capital requirement of the assessee seems to be for a long term. Further, to this the learned CIT(A) has stated that the assessee has raised funds for extension of business as per the provisions of section 35D(1)(ii) of the Act and whether, the impugned expenses pertaining to IPO are covered u/s 35D and whether the same has to be amortized over a period of 5 years was the issued before the lower authorities and not the nature and quantum of IPO expenses was disputed. The learned CIT(A) held that the IPO expenses are covered under the provision of section 35D(2)(c)(iv) of the Act an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the same was disallowed on the ground that the assessee has failed to furnish the details pertaining to the payment of the impugned amount before the lower authorities. The assessee has stated that it has turn NPA in August 2013 and the same was the reason for not paying the statutory dues. We find no infirmity in the order of the learned CIT(A) as the assessee has failed to furnish particulars of its claim before us. In the result, this ground of appeal filed by the assessee is dismissed. 6. Ground No. 6,7 and 8 pertaining to disallowance of interest on late payments of TDS, disallowance u/s 40a(ia) and addition on staff welfare expenses were not raised before the learned CIT(A) and the assessee has challenged these grounds before us ..... X X X X Extracts X X X X X X X X Extracts X X X X
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