2014 (9) TMI 1024

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.... 2. That the AO has grossly erred in making disallowance of Rs. 580387/- on account of purchases, freight, power, fuel, salary & wages and other expenses. The Ld. CIT(Appeals) has erred in sustaining the same. No specific reason or instance was pointed out. As such there was no reason and justification for sustaining this addition especially when all the expenses are fully vouched and they were incurred during the course of business. As such, the addition sustained by the Ld. CIT(A) is unjustified and the same may be deleted. Alternatively, the disallowance made by AO is very high & excessive. 3. That the Ld. CIT(A) has erred in confirming the addition of Rs. 2,50,000/- and Rs. 3,32,580/- made by the AO on account of so-called bog....

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....ich may be urged at the time of hearing of the appeal." 2. Ground No.1 is general in nature and therefore, did not require any adjudication. 3. As regards grounds no. 2 & 3, the brief facts of the case are that the assessee had claimed following expenses in the profit & loss account: S.No. Particulars Amount (Rs.) 1. Purchases 4542550 2. Freight 656904 3. Power & Fuel 23698 4. Salaries & Wages 525190 5. Other expenses 55543   The AO disallowed 15% of the said expenses in the absence of books of account and vouchers vide para 3.1.2 of the order and also made similar addition on account of sundry creditors amounting to Rs. 3,32,580/- and Rs. 4.90 lakhs on account of unsecu....

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....as been raised during the year, therefore, the ld. CIT(A) is not justified in sustaining the same and the same are directed to be deleted. 8. As regards ground No.4, the brief facts are that the assessee claimed deduction u/s 80-IB of the Act amounting to Rs. 20,18,705/-. The Ld. CIT(A) disallowed the same by observing that the assessee is not qualified for deduction vide para 4.5 of his order. 8.1. The Ld. CIT(A) confirmed the action of the A.O. and considering the arguments of the ld. counsel for the assessee that a copy of Form 10CCB and copy of DIC certificate was submitted to the AO but the ld. CIT(A) observed that all the conditions laid down u/s 80IB of the Act are not fulfilled and merely filing of Form 10CCB and DIC certifica....