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TMI Blog2017 (10) TMI 1622X X X X Extracts X X X X X X X X Extracts X X X X ..... as made by the A.O on account of interest attributable to advance made to Sh. Arun Kumar The A.O had disallowed interest of Rs 1,60,88,065/- as interest attributable at 12% on Rs. 13,40,67,214/- which has been advance to Sh Arun Kumar out of interest bearing funds of the company. 2 The Ld. CIT(A) has erred in law and in facts in deleting the addition of Rs.90,200/- under the subhead marriage gift and addition of Rs.4,12,414/- under the sub-head subscription expenses as these expenses were personal in nature. 3 The Ld. CIT(A) has erred in law and in facts in deleting the addition of Rs.1,50,000/- under the consultancy expenses and addition of Rs.2,31,993/- being expenses incurred in advertisement in Hindustan Times on the anniversary Of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt has been completed vide an order passed u/s. 143(3) dated 09.2.2015 of the Income Tax Act, 1961 (hereinafter referred as the Act) at an assessed income of Rs. 4,17,60,620/- inter alia making various additions and disallowances. 3. Aggrieved by the assessment order dated 09.2.2015, assessee filed appeal before the Ld. First Appellate Authority who has partly allowed the appeal of the assessee vide order dated 12.5.2015 and deleted the some of the additions. 4. Ld. DR relied upon the order of the AO and reiterated the contentions raised in the grounds of appeal and requested that the appeal of the Revenue may be allowed. 5. Ld. Counsel of the assessee has relied upon the order of the Ld.CIT(A) and stated that Ld. CIT(A) has passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld. CIT(A), which does not need any interference on our part, therefore, we affirm the impugned order on the issue in dispute involved in ground no. 1 and accordingly reject the same. 6.2 With regard to ground no. 2 relating to deletion of addition of Rs.90,200/- under the sub-head marriage gift is concerned, we note that the expenditure incurred by the assessee is only towards meeting the social obligation towards the dealer and employees which is an important tool of business promotion and staff welfare. Moreover, the same is also covered matter, the disallowance made by the AO was rightly deleted by the Ld. CIT(A), which does not need any interference, hence, we uphold the same. As regards the addition of Rs.4,12,414/- under the sub-he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he founder of the company by the management, staff and workers of all the units which was allowed in the appeal by the ITAT and the Ld. CIT(A), hence, the Ld. CIT(A) has rightly deleted the addition by following the precedence, which does not need any interference on our part, therefore, we affirm the impugned order on the issues in dispute involved in ground no. 3 and accordingly reject the same. 6.4 With regard to ground no. 4 relating to addition of Rs.3,74,560/- under the sub head glow shine board expenses is concerned, we are of the considered opinion that this expenditure has been considered to be Revenue in nature, hence, Ld. CIT(A) has rightly deleted the addition in dispute being a covered matter, which does not need any interfere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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