2014 (6) TMI 221

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.... Per B. Ramakotaiah, A.M. This is an assessee appeal against the order of Ld. CIT(A)-II, Hyderabad dated 05.12.2013. Assessee in this appeal is contesting claim of interest of Rs.7,18,252/- and salary payment of Rs.2,81,700/- disallowed by A.O. and confirmed by Ld. CIT(A). 2. Facts leading to the present appeal are that assessee is a company which has not filed return in the impugned year....

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....s. 71,025 d. Dhansri Rs. 20,205 e. B. Dheeraj Rs. 30,000 f. Gurucharan Singh Rs. 30,000 g. Rateen Rs. 33,675 h. Bank of India Rs. 27 i. Kuldeep Rs. 40,000 j. Prudhviraj Rs. 67,350 Total Rs.7,18,252 3. In addition, the salary and bonus claim of Rs.2,81,700/- was also disallowed on the reason of nonproduction of books of accounts and evidences there....

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....n especially with reference to interest expenditure and no details were furnished regarding salaries and wages. 7. We have considered the rival contentions and examined the record. A.O. did disallow the interest even though assessee has deducted the tax on the said amounts as per the provisions of TDS. His reasoning was that the loans were obtained in two firms names whereas the interest was pa....

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....ent of interest and consequent TDS made in respective individuals cases and confirmations of them were filed, we are unable to allow the amount as such in the absence of their individual investments and the interest calculation of amount claimed. Moreover, assessee has not placed either the annual report or the computation of income before us. Therefore, whether the interest is to be allowed as a ....