TaxTMI 
TaxTMI 
2012 (10) TMI 204
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.... of the assessee is squarely covered u/s 36(1)(viia) of the Income-tax Act, 1961 without appreciating the facts that the assessee failed to furnish the details of assets classified by the Reserve Bank of India as doubtful assets or loss of assets is in accordance with guidelines issued by it in this behalf. 2. On the facts and circumstances of the case, the ld. CIT(A), Amritsar, erred in deleting the addition of Rs.28,33,460/- made by the AO by observing that the payment made to petrol pump for purchase of petrol used in such hired vehicles was not liable to tax deducted at source without appreciating the fact that since the provisions of Chapter XVIIB were not complied with, the disallowance made u/s 40(a))(ia) of the Act wa....
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....een empowered to issue directions to all the banks as to regulate the banking business in the public interest or in the interest of banking policy. After discussing what has been submitted by the assessee before him, the ld. CIT(A) observed that the assessee had no option but to claim the same and the claim, even if notional, is exclusively laid out for the purpose of smooth running of banking business and thee is no reason not to allow the same to the assessee. It is a statutory claim allowable on the analogy of 30% deduction allowed in respect of income under the head house property, without making it necessary to show the evidence of such expense having been actually incurred. The AO had failed to appreciate that section 36(1)(viia) is a....
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....ition by observing that certain categories of bank employees are entitled to facility of staff vehicle for the performance of their official duties. Since the bank did not own a fleet of its own vehicles so as to provide it to a number of its employees entitled to it at HO and at its 44 branches, the banking Board has formulated a policy to allow vehicle maintenance expenses at a fixed rate on daily basis to all such employees, having regard to their rank and type of vehicle entitled to. It is for the concerned employees to arrange the vehicle of its own and justify the expense claimed. The fuel charges are to be borne by the bank. The vehicle owner is not under any contract with the bank or any of its employees to provide his vehicle. It d....
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....) after considering the submissions of the assessee and without giving any opportunity to the AO has decided the issue, which is in violation of principle of natural justice. On merit, the Ld. DR argued that the assessee had not shown the provisions as to how the R.B.I. Act is applicable u/s 36(1)(viia), which specifically speaks of the provisions for bad and doubtful debt and no provision of standard on asset is there in the Income Tax Act. 7.1 As regards the disallowance under section 40(a)(ia) of the Act for hired vehicles, as per details placed before the ld. CIT(A), the payments have been made on periodical basis mostly on monthly basis, which can only be part of the contract. The total payments made periodically, monthly or half ye....
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....by accepting the explanation of the assessee. Now the question arises whether the ld. CIT(A) is authorized to admit such additional evidences which are in the form of R.B.I. guidelines, list of advances advanced by the bank, relevant pages of Statutory audit showing calculation of standard Assets & provision of Rs. 12 lacs, details of hired vehicles showing petrol expenses debited under this head and relevant Tax Audit report in form No.3CD at PB 1 to 23, which were only filed before the ld. CIT(A). Under Rule 46A of the Income Tax Rules, 1962, it has been provided that the appellant is not entitled to produce before the ld. CIT(A) any evidence, whether oral or documentary, other than the evidence produced by him during the course of procee....
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.... document to enable to dispose of the appeal, or for any other substantial cause including the enhancement of the assessment or penalty, whether on his own motion or on the request of the AO. In the present case, the assessee had submitted the details with regard to hiring charges, petrol charges and other charges before the ld. CIT(A) and other evidences to show that the claim of Rs.12,00,000/- is available to the assessee. In the present case, the assessee has not moved any application for admission of any additional evidence under Rule 46A of the Income Tax Rules, 1962. Even if the application under Rule 46A has not been filed before the ld. CIT(A), the assessee has not shown that the AO has refused to admit the evidence which ought to h....