2017 (2) TMI 681

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....aid genuinely by the appellant to two non-residence parties on the ground that TDS should have been deducted from this amount even when the provisions of deduction of TDS were not applicable in this case. Accordingly the reasonable and genuine commission of Rs. 4,40,820/- deserves to be allowed and the disallowance made by the AO deserves to be deleted. (ii) That under the facts and circumstances of the case, the ld. CIT(A). Alwar erred in sustaining the addition of FDR interest income of Rs. 4,35,333/- even when the interest income stands already taxed and sustenance of this addition has resulted in double taxation. Accordingly the addition of Rs. 4,35,333/- deserves to be deleted. (iii) That under the facts and circumsta....

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....est income shown in Form 26AS of the Income Tax Department has been assessed by the AO as interest income not declared. The appellant has stated that there was no FDR with the bank other than the margin money as per the Balance Sheet of the appellant and the AO has imaginarily calculated the interest income of Rs. 4,35,333/-. It was further submitted that as far as the difference of interest income as per Form 16A and as shown in Profit and Loss account is concerned, it is submitted that total interest of Rs. 34,96,515/- earned from bank has been shown in the Profit and loss account over a period of seven financial years i.e. FY 2006-07 to FY 2012-13 as against Rs. 34,01,526/- as per Form No. 16A/Form 26AS. Hence an excess interest of Rs. 9....