9911796707
TMI Blog2023 (7) TMI 228X X X X Extracts X X X X X X X X Extracts X X X X ..... "] for Assessment-Year ["AY"] 2012-13, the assessee has filed this appeal. 2. By means of various grounds raised in appeal memo, the assessee is basically challenging the addition of Rs. 5,22,614/- made by the AO in respect of payments said to have been made through credit card. 3. This is 2nd round of litigation in the matter. Briefly stated the facts are such the assessee filed return of income of relevant A.Y. 2012-13 on 29.09.2012 declaring a total income of Rs. 12,29,580/-. The case was selected under scrutiny and the AO completed assessment u/s 143(3) vide order dated 31.03.2015 after making certain additions including a disallowance of Rs. 5,22,614/- in respect of payments said to have been made through credit card. The assessee co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Therefore, the Company provided a credit card No. 428479000005590 to assessee. Since the expenses belonged to Company, a total payment of Rs. 4,10,448/- was made by Company and the same was recorded in Company's books. A statement of transactions of credit card was also submitted to AO which revealed total payment of Rs. 4,10,448/-. However, there was a slight difference between 4,16,039/- reflected in the Information Report and Rs. 4,10,448/- paid by Company but it was not possible to reconcile the difference in absence of complete details in Information Report. Further, it was also not possible to explain the consolidated sum of Rs. 1,06,575/- appearing in Information Report since no details of transactions were revealed by Information Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be attracted in the hands of Company and not assessee. With these precise submissions, Ld. AR prayed to delete the disallowance made by revenue authorities since it is 2nd round of litigation and the authorities are not able to understand the assessee's contention or explanation, which is very simple, correct and factual. Ld. AR made a humble prayer to decide this case on the basis of evidences placed in Paper- Book as narrated above so that matter comes to an end. 6. Ld. DR supported the orders of lower-authorities. 7. We have considered rival submissions of both sides and perused the order of lower authorities as also the documents placed in Paper-Book. After a careful consideration, we find sufficient weightage in the submission of Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
