2019 (4) TMI 1980

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....For the Appellant : Shri S. Sridhar, Advocate For the Respondent : Dr. Kumudha, JCIT ORDER PER DUVVURU RL REDDY, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order of the Ld. Commissioner of Income Tax (Appeals) 1, Trichy, dated 14.11.2018 relevant to the assessment year 2012-13. In the grounds of appeal, the assessee has challenged confirmation of various....

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.... short] by making various additions. 3. The assessee carried the matter in appeal before the ld. CIT(A). The assessee has not filed any details against its claim for consideration of the ld. CIT(A). However, after obtaining remand report from the Assessing Officer, while giving part relief with regard to the addition towards short term borrowings brought to tax, the ld. CIT(A) confirmed the add....

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.... Rs..5,06,04,495/-. 6. By referring to the ledger accounts of M/s. Balan Infrastructure P. Ltd., the ld. Counsel for the assessee has submitted that the said company paid advance to the extent of Rs..2,47,00,000.00 during the period 01.04.2011 to 31.03.2012, which was confirmed by the said company vide its confirmation letter dated 29.11.2013. Similarly, by referring to the loan agreement as we....

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....d decide the issue in accordance with law by affording an opportunity of being heard to the assessee. 7. With regard to the disallowance of finance cost of Rs..27,82,772/-, the ld. Counsel for the assessee has submitted that as per loan agreement, the assessee is liable to pay interest @ 14.25% for the loan obtained from M/s. Great Meera Finlease Pvt. Ltd. and paid interest to the tune of Rs..2....