TaxTMI 
TaxTMI 
2014 (6) TMI 909
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....an received from Shri. A.K. Shukla a resident of Canada and in not appreciating the submissions and the documents submitted before him and thus the addition being based on notions, conjectures and surmises may kindly be ordered to be deleted. 2. The Ld. CIT (A)'s erred on facts and in law in partly conforming the addition of Rs. 24,139/- and only giving a relief of Rs. 3,106/- under the head Travelling and Conveyance for alleged non professional purposes and as the same is not based on any cogent material on record and made only on whims and fancies the same may kindly be ordered to be deleted. 3. The Ld. CIT (A)'s erred on facts and in law in partly conforming the addition of Rs. 3,462/- and only giving a relief of Rs. 692/- un....
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....it is Canada or U.S and the name of the persons appearing in the balance sheet of the assessee. The ld. counsel for the assessee has submitted that it has filed the bank statement to show from where the money is transferred and the assessee has received this loan in U.S. Dollars. Copy of the confirmation was also filed. It was contended that Shri. A. K. Shukla is a resident of Canada, therefore, it has become practically impossible to produce him for cross-examination. Otherwise, he has all other relevant evidence to prove the genuineness of the transaction and the creditworthiness of the creditor, but the Revenue authorities did not appreciate the evidence filed by the assessee. 5. The ld. D.R. has placed reliance upon the order of the ld....
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....IT(A). 10. Having carefully examined the issue in detail in the light of the rival submissions, we find that undisputedly personal use of vehicles cannot be ruled out. Therefore, certain disallowance is called for. But the disallowance estimated by the ld. CIT(A) @ 20% is on higher side and we accordingly reduce the same to 10% to meet the ends of justice. Accordingly, we direct the Assessing Officer to re-compute the disallowance @ 10% of the total claim on account of personal use of vehicle. 11. Apropos ground No.3, it is noticed that the Assessing Officer has disallowed depreciation on car at 25% on account of personal use, which was resulted into disallowance of Rs. 3,462/- and the same was reduced to Rs. 2,770/- by the ld. CIT(A). 1....