TaxTMI 
TaxTMI 
2014 (7) TMI 253
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....ues, per grounds (a) to (e), which we shall take up in seriatim. The first issue is in respect of sales-tax liability, outstanding in accounts at Rs. 12,02,780/- as at the year-end. The same was explained as the sales-tax pertaining to financial years (f.ys.) 1991-92 to 1995-96 (and not assessment years, as stated in the impugned order), for which period the assessee was exempted from payment of sales tax. In fact, the subsidy was for an initial period of ten years, which in the assessee's case expired during f.y.1990-91. The said scheme was extended by the Government of Gujarat (the assessee's unit being located in Vapi, Gujarat) for a further period of five years. However, as no official communication in its respect had been received by t....
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....n adduced by the assessee of the said sum having been add-back, either suo motu or by the Revenue in assessment for the relevant years. If the amount of said liability has not been not deducted, i.e., not added-back to the book profit, in arriving at the quantum of taxable income for the relevant years, which could be on the ground of deferral of sales-tax being considered as deemed payment (for the purpose of section 43B), so that deduction in its respect stands claimed (and allowed), the same could definitely be considered as income on cessation of liability. On the other hand, if no deduction had been claimed or allowed qua the said liability in the past, there is no question of the said amount/s being considered as the assessee's income....
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.... to contend that it was in fact no so. The amount stands shown and accepted as a liability as at the end of the immediately preceding year and, further, has been found by the Revenue as not representing a liability as at the end of the current year. As such, the inference of cessation of liability would only be for the current year, and the assessee cannot be allowed to take advantage of its own mis-statement or misrepresentation, where so. Reference in this context may be usefully made to the decision by the Tribunal in the case of Sajjankumar Didwani (in ITA Nos. 7716 & 7793/Mum/2012 dated 28/5/2014). 4. The facts in relevant to the second ground (b) are that the assessee entered into an agreement for sale of a residential plot at Vapi w....
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....irmed in appeal for the same reason; the assessee explaining its inability to improve matters as the recipient was not co-operating with it. No improvement in its case, besides stating that the godown had been rented at Rs. 2300/- per month w.e.f August 2006 onwards, stands made by the assessee before us. So, however, in our view, if the assessee could demonstrate the actual renting of the godown from Shri Lakdawalla and payment of the impugned sum to him, i.e., as a fact, there is no particular reason for disbelieving the assessee's claim. The amount stands paid as an advance, so that it having been forfeited by the landlord, it is quite possible that he may not co-operate with the assessee. The onus to establish the basic facts afore-stat....
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....erty in respect of residential property at Vapi. The assessee failing to furnish the relevant details of the property, viz. location; built-up area; amenities provided, etc., as well as that qua the rent it could fetch from year to year on being let, the AO estimated the Annual Value (AV) of the said house property at Rs. 20,000/- per month. Allowing standard deduction u/s. 24(a) @30%, the balance amount of Rs. 1,68,000/- was assessed as income from house property for the year. The learned CIT(A) has discussed this matter, which is related to that raised per ground (d), at length vide para 4.3 of his order. However, the assessee furnishing a copy of the municipal certificate for charge of municipal tax on the said property for financial yea....