TaxTMI 
TaxTMI 
2018 (3) TMI 1590
X X X X Extracts X X X X
X X X X Extracts X X X X
....angapurwala, J.) :. The appeal pertains to assessment year 2008-2009. The assessing officer has made addition of Rs. 3,61,500/. The said addition is confirmed by the Commissioner Appeals and the Income Tax Appellate Tribunal. The addition was in respect of treating Rs. 3,61,500/as unexplained expenditure U/Sec. 69 of the Income Tax Act (for short "I. T. Act"). The amount of Rs. 3,61,500/was foun....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of interest was offered by S. G. Mittal as interest accrued. According to the learned advocate, in the show cause notice, the interest income of S. G. Mittal was stated to be only receivable and in assessment order also interest is considered only interest payable by the appellant company. According to the learned advocate unless and until the amount is actually paid, the same would not be brough....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... it did not pay the amount, I find that all circumstantial evidences contradict the appellant's submission in regard to payment of interest. The undisputed facts of the case are (i) the company received Rs. 50 lac in cash as loan on interest (ii) the said loan was repaid on 7/11/2007 as per the letter dt. 27/11/2007 written by Shri Satishchand to Shri Kantilal Jain (iii) interest was due as on....