2022 (12) TMI 746

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....see has raised the following grounds of appeal:- 1. For that the Ld. CIT (Appeals) erred in not considering the submission on issue of addition of undisclosed commission of Rs. 24,418/-.The Income was already disclosed & offered to tax resulting in double taxation. 2. For that the Ld. CIT (Appeals) erred in law as well as in facts to make addition of expenses reimbursed of Rs. 1,63,716/- as receipt of commission. The Ld CIT (Appeals) did not consider the submissions & documents filed on the issue. 3. For that the Ld. CIT (Appeals) erred in not considering the submission on issue of addition of undisclosed Interest on Security deposit of Rs. 30,082-.The Income was already disclosed & offered to tax resulting in dou....

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....used the material placed before me. 7. Ground no.1, it relates to addition of undisclosed commission income of Rs.24,418/-. We on perusal of the submissions filed by the assessee find merit that inadvertently there were some mistakes in the accounting of bills. The assessee offered an amount of Rs. 5,98,381/- as C & F commission agent for FY 2008-09. During the course of hearing before the ld. AO the assessee accepted Rs. 3000 in July'08 bill and Rs. 43 in August '08 bill erroneously not accounted. Further, the assessee has also disclosed Rs. 32,406/- as other commission under miscellaneous income. Thus total commission income has been shown at Rs.6,33,831/-. Therefore, under the given facts there was no further requirement to make addit....

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....g addition of Rs.30,082/-. The finding of the ld. CIT(A) stands reversed. Ground no. 3 is allowed. 10. Ground no.4 it relates to disallowance of interest of Rs.4,62,710/-. We observe that the said expenditure claimed by the assessee was disallowed by the ld.AO. Further, on perusal of the written submissions before the ld. CIT(A) it is discernible that the assessee had taken housing loan from B.O.I (Bank of India) as well as other credit facilities. This loan was taken for the purpose of construction of house property. The said property has been let out on rent. The assessee has filed documentary evidences before the lower authorities to prove that the loans were utilised for construction of rented property and the same is allowable u/s. ....