TaxTMI 
TaxTMI 
2014 (2) TMI 562
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....ces of the case and in law, the learned CIT(A) erred in allowing the disallowance made by the Assessing Officer of interest on unsecured loan of Rs.2,54,880/- as non business expenditure. 3. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in allowing the addition made by the Assessing Officer of payment of MVAT & Sales Tax of Rs.15,448/- due to non submission of documentary evidence of payment. 4. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in allowing the addition made by the Assessing Officer of Rs.57600/- on account of low withdrawals for household expenses." 2. The appeal came up for hearing before the Tribunal on 4th September, 2013 and the same was ad....
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....n the return filed by the assessee, the assessee does not claim the benefit under section 44AF and writes 'Nil' profit in column 33 sub clause (iii). In view of the above the AO, in the trading account of the assessee, has observed that the assessee has claimed purchase of Rs. 12,90,563/- in respect of which no authentic vouchers are furnished and its payments are also not substantiated. The AO disallowed 10% of the total purchase, which comes to Rs. 1,29,056/- and added to the total income of the assessee. The learned CIT(A) also confirmed the said action of the AO. Hence the assessee is in appeal before us in ground No. 1 of the appeal. 5. Since the assessee has not claimed the benefit of section 44AF in the return filed and also could n....
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.... investments in the assessment year under consideration. Therefore, the learned CIT(A) has stated that in the absence of any evidence filed, the addition made by the AO is sustained. 8. Since no evidence are also filed before us to controvert the facts as stated by the learned CIT(A) (supra), we do not find any reason to interfere with the order of the learned CIT(A). Hence ground No. 2 of the appeal taken by the assessee is rejected. 9. In respect of ground No. 3 of the appeal the AO has stated that as per the Balance Sheet as on 31st March, 2007, on the Liabilities side the assessee has shown M. VAT and Sales Tax at Rs. 564/- and Rs. 14,924/- respectively. The assessee was asked to furnish challans of Sale Tax and M. VAT payment but the....