TaxTMI 
TaxTMI 
2019 (1) TMI 1256
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....n short "the Act") dated 29.03.2014 for the Assessment Year 2011-12. 2. The first issue to be decided in this appeal is as to whether the ld CITA was justified in upholding the disallowance made in the sum of Rs. 48,500/- u/s 40A(3) of the Act in the facts and circumstances of the case. 2.1. The brief facts of this issue are that the assessee is a partnership firm running a rice mill and had filed its return of income for the Asst Year 2011-12 on 27.9.2011 declaring total income of Rs. 5,09,968/-. The ld AO observed in his order that the authorized representative of the assessee appeared from time to time in the assessment proceedings and furnished the requisite details that were called for. The ld AO observed from the ledger of 'Load....
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....TA had rightly confirmed the disallowance u/s 40A(3) of the Act in the facts and circumstances of the case. Accordingly, the Ground No.1 raised by the assessee is dismissed. 3. The next issue to be decided in this appeal is as to whether the ld CITA was justified in confirming the addition of Rs. 2,05,217/- towards undisclosed income in the facts and circumstances of the case. 3.1. The brief facts of this issue are that during the assessment proceedings, the ld AO noted that the assessee did not disclose TDS amounting to Rs. 4,649/- and corresponding income of Rs. 2,05,217/- received from Food Corporation of India, Krishnagar, Nadia. Hence the sum of Rs. 2,05,217/- was added to the total income of the assessee by the ld AO for want....
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....ssessee had furnished the ledger account of transport charges recovery account before the ld CITA and the ld CITA acknowledges that it is a squared off account. This goes to prove that the transport charges incurred by the assessee on behalf of FCI had been debited in a separate account in Balance Sheet ( and not routed through profit and loss account as an expense) and thereafter the same was reimbursed by FCI to the assessee and on said reimbursement, the account gets squared off. Since FCI had paid transport charges , it had deducted TDS of Rs. 4,649/-. Even though the said sum of Rs. 4,649/- has been wrongly accounted as discount allowed by the assessee instead of TDS, the same would not automatically result in addition of undisclosed i....
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....nce of employees provident fund to the tune of Rs. 19,460/- beyond the due dates prescribed under the PF Act. Accordingly, the same was disallowed in the assessment. The ld CITA observed from the chart of date of payments for each month, that the payments have been made before the due dates taking into account the grace period of 5 days by placing reliance on CPFC's Circular NO. E.128(1) 60-III dated 19.3.1964 as modified by Circular No. E11/128(Section 14-B Amendment)/73 dated 24.10.1973. Accordingly, he granted relief to the extent of Rs. 12,608/- taking into account the grace period fo 5 days and confirmed the remaining sum of Rs. 6,852/- which were paid beyond the grace period of 5 days. Aggrieved, the assessee is in appeal before us....