TaxTMI 
TaxTMI 
TaxTMI 
2018 (1) TMI 1240
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....1961 (for short 'the Act') on the grounds inter alia that :- "l. The order passed by the A.O. is in bad in law and against the cannon of taxation. 2. The A.O. has ignored of law and interpreted wrongly. 3. The A.O. has vitiated by the fact, finding and reached on assessment only on the presumption and assumptions and not based on any relevant evidences or circumstances. 4. The following additions made by AO have been sustained by the Commissioner of Income Tax Tax(Appeals) I. Rs. 7,82.465/- on account of honorarium II. Rs. 4,54,300/- on account of salary paid U/S 13(3) III. R .1,64,715/- on account of depreciation IV. Rs. 51,000/- on account of interest V. Rs. 2,04,757/- on account of surplus of income order expenditure 5....
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....K. Gupta Rs. 1,38,000/- B.A. b. Kiran Gupta Rs. 1,12,800/- B.Ed., Post Graduate c. Rohit Gupta Rs. 1,23,700/- B.Ed. d. Nidhi Gupta Rs. 79,800/- B.Ed. 11. Section 13(2)(c) stands as under:- "If any amount is paid by way of salary, allowance or otherwise during the previous year to any person referred to in sub section (3) out of the resources of the trust or institution for services rendered by that person to such trust or institution and the amount so paid is in excess of what may be reasonably paid for such services." 12. We have not paid excess salary. Keeping the view in mind that Principal and President of society Smt. Kiran Gupta is fetching salary of Rs. 1,12,800/- per annum only having strength of....
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.... page 9 paragraph 2 Point no. 5 has mentioned the nature of services. Additions on account of depreciation (Rs.1,64,715/-) and interest of Rs. 51,000/-:- 14. We are running intermediate school under Golden Public School. For the various purpose of working of the school. Someone has gone outside the school i.e. construction activities, liasioning with DIOS and CBSE Board. Many times we have to go to receive guests of different events i.e. 15 August, 26 January, 2 October, Foundation day, Sports seminar and other activities. Some time we have go to doctor/hospital taking the students or staff also. So all these vehicles are necessary and for society purpose. We have incurred nominal charges during the year. Total expenditure on car a....
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..../- to Rs. 16,000/-. Claim of the assessee as to making salary of Rs. 4,54,300/- to its family members and management of the society was also disallowed and depreciation of Rs. 6,34,909/- claimed by the assessee having been paid to M/s. Dev Packaging has also been disallowed. Disallowance of Rs. 1,70,000/- was also made on account of interest on the amount of Rs. 4,00,000/- paid to Sanjay Gupta, one of the trustee, is also disallowed. AO found the aforesaid claim of the assessee society as deliberate concealment of income by furnishing inaccurate particulars of income and thereby levied penalty of Rs. 9,31,929/-. 3. Assessee carried the matter by way of filing appeal before the ld. CIT (A) who has partly allowed the appeal by restricting th....