TMI Blog2023 (7) TMI 750X X X X Extracts X X X X X X X X Extracts X X X X ..... nfirmed that the said party and the assessee s books certain repair and maintenance was carried out as per the bill dated 01.03.2010 and 11.03.2010. The payments were made after deducting TDS. The parties directly confirmed the said charges while replying notice u/s133(6) of the act. Thus, AO has totally ignored the evidences placed before him and, therefore, the CIT(A) rightly deleted this addition Addition of interest expenses - HELD THAT:- ITAT confirmed that CIT(A) did not agree with the view of the Assessing Officer that the said addition was required to be made as there was no case made out on facts and in law to invoke provisions of section 36(1)(iii) of the Act and making any disallowance. In arriving at such finding, the Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer on account of repairs and Maintenance expenses? (iii) Whether the Tribunal was justified in confirming the order passed by the CIT(A) deleting the addition of Rs.4,84,052/- made u/s. 36(1)(ii) of the I.T. Act by the Assessing Officer on account of interest expenses? 3.1 The facts are that the assessee had filed return of income on 30.09.2010 declaring total income at Rs. 5,38,20,900/-. The return of income was processed under section 143(1) of the Income Tax Act. A search was carried out under section 132 of the Act on the group of companies of the assessee. A search assessment was subsequently completed under section 153(A)(1)(b) on 20.11.2014 and the total income was determined to be Rs. 8,47,74,710/-. 3.2 While ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e AO and before me are exactly identical, following the reasons given in A.Y. 2009-10, the above disallowance of Rs.2,86,59,222/- is held without any merit or supporting material and therefore deleted. Ground 3(i) succeeds. 5.1 The same was confirmed by the Income Tax Appellate Tribunal by holding, 8. We have heard both the parties and perused all the relevant material available on record. As regards ground no.1 for A.Y. 2009-10 2010-11 related to 40A(2)(b) of the Act, the disallowance on account of warehouse rent being excessive payment was rightly deleted by the CIT(A) as the assessee has given the details related to warehouse expenditure on rent thereby filing the details of related to entry/payment of the corresponding receip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... him and, therefore, the CIT(A) rightly deleted this addition. Ground no.3 of Revenue s appeal for A.Y. 2010-11 is dismissed. 5.3 The third aspect was deletion of interest expenses. The Commissioner of Income Tax did not agree with the view of the Assessing Officer that the said addition was required to be made by observing in para 8.2.1 of the order that there was no case made out on facts and in law to invoke provisions of section 36(1)(iii) of the Act and making any disallowance. In arriving at such finding, the Commissioner of Income Tax did not make any error. He relied on various decisions. The finding was confirmed by the Tribunal. 6. On all the aforesaid three counts, the concurrent findings are arrived at by the appellate Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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