TaxTMI 
TaxTMI 
2022 (6) TMI 114
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....ssions made by him for one year would be applicable to the other year also. In view of the aforesaid submissions of the DR, we for the sake of convenience proceed to dispose of both the appeals by a consolidated order but for the sake of reference refer to the facts for A.Y. 2011-12. 3. The relevant facts as culled from the material on records are as under: 4. Assessee is a company stated to be engaged in the business of hotel operations and marketing activities. Assessee filed its return of income for A.Y. 2011-12 on 30.09.2011 declaring income of Rs. 80,67,320/-. The case was selected for scrutiny and thereafter assessment was framed u/s. 143(3) of the Act order dated 31.03.2014 and the total income was determined at Rs. 2,45,00,458/-. ....
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....s. 8,51,234/- is contrary to facts and the applicable provision of the Income Tax Act, 1961 and is liable to be deleted. 5. The Ld. CIT(A) has confirmed an addition of Rs. 6,00,000/- U/s. 40A(3) of the Income Tax Act, 1961 merely on the basis that the expenses were incurred in cash without undergoing the facts, supporting, factual evidence held by the assessee in relation to the above expenses. The said addition was made without considering the relevant vouchers and supporting evidence and thus liable to be deleted. 6. That the Ld. CIT(A) without considering the facts of the case confirmed the addition of Rs. 1,83,853/- to the taxable income of the assessee being the interest charged by the Income Tax Department consequent to the refund....
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.... on various dates and the notice for hearing was also issued but on all those dates there was no appearance on behalf of the assessee nor any adjournment application was moved on its behalf. The details of the dates when the matter was listed for hearing but was adjourned on account of non appearance by assessee is tabulated hereunder: 1. 01.02.2021 - matter was adjourned to 12.04.2021 2. 12.04.2021 - matter was adjourned to 21.06.2021 3. 21.06.2021 - matter was adjourned to 08.09.2021 4. 08.09.2021 - matter was adjourned to 17.11.2021 5. 17.11.2021 - matter was adjourned to 07.02.2022 6. 07.02.2022 - matter was adjourned to 28.04.2022 7. On the present date also, there is no appearance from the side of assessee nor there is an....
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....imed interest expenses of Rs. 72,16,911/-. He also noticed that Assessee; apart from giving other advances, had shown Rs. 1,77,99,844/- as advance for share application money. Assessing Officer concluded that Assessee had diverted borrowed funds, on which interest was paid, as interest free advances. He therefore held that the claim of interest payment to be not backed by commercial expediency. He therefore disallowed interest of Rs. 72,16,911/-. 11. When the matter was carried before CIT(A), CIT(A) after considered the submission of assessee vide para 4.2 of the order granted relief to the extent of Rs. 9,64,890/- and upheld the addition to the extent of Rs. 62,52,021/-. Aggrieved by the order of the CIT(A), assessee is now in appeal. 12....
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....s of Section 40(a)(ia), disallowed Rs. 18,55,588/-. 15. Aggrieved by the order of the Assessing Officer, Assessee carried the matter before CIT(A). The CIT(A) vide para 6.2 of the order upheld the addition to the extent of Rs. 8,51,234/- and granted relied to the extent of Rs. 10,07,354/-. 16. Aggrieved by the order of the CIT(A), Assessee is now in appeal. 17. Before us, ld. DR took us through the findings of the CIT(A) and supported his order. 18. We have heard the rival submissions and perused the material on record. The issue in the present ground is with respect to disallowance under Section 40(ia) on account of non deduction of TDS. We find that CIT(A) has granted relief to the extent of the TDS that was deducted and paid by the A....
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.... noted that Assessee has neither given the details or justification for cash payment before Assessing Officer and him. Before us also, no material has been placed by Assessee to point any fallacy in the finding of CIT(A). We therefore find no reason to interfere with the order of CIT(A) and thus the ground of Assessee dismissed. 24. Vide Ground No. 6, assessee is challenging the addition of Rs. 1,83,853/-. Assessing Officer vide para 8 of the order has noted that assessee had paid Rs. 1,83,853/- on account of "Income Tax Provisions-FBT". Assessing Officer was of the view that the amount paid was of penal nature and therefore not allowable. He accordingly disallowed the expenses. 25. Aggrieved by the order of the Assessing Officer, Assesse....