TaxTMI 
TaxTMI 
2023 (3) TMI 821
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....The learned CIT(A)-7, Pune and learned AO erred in law and on facts in making disallowance of Rs.91,200/- u/s 37(1) of the ITA, 1961 on account of advertisement expenses. 2. The learned AO erred in law and on facts in making adisallowanceand further learned CIT(A)-7 , erred in Confirming AO's action for disallowing Rs. 41,78,942/- u/s 36(l)(viia) of the ITA, 1961 in respect of provision for bad and doubtful debts. 3. The learned CIT(A)-7 and learned AO erred in law and on facts in not appreciating that while calculating allowance u/s 36(l)(viia) i.e. 7.5% of total income, there is no requisite to have rural advances with the appellant bank. 4. The learned CIT(A)-7 and learned AO erred in law and on facts in ma....
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....entioned as under : "4. Disallowance of advertisement expenditure being for non-business purpose: Rs. 91.200/- 4.1 P & L a/c of the assessee, was debited on a/c of expenditure under the head Advertisement expenses" at Rs.91,200/-. On verification of such expenses and "advertisement given in the print media vis-a-vis business exigencies of such advertisement expenses, it is seen that the same is not for the purpose of business and thus, are not deductible u/s 37(1) of the Act. The details are given as under: Date Particulars Amount 01 16.09.2013 Death condolence of Mr. Kalyanrao Gujar 79,200/- 02 04.03.2014 Death condolence of Mr. Rambhau Tupe/Shreerang Kadam 12,000/- ....
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....ted in 168 ITR 375 wherein it has been held that: "Where an assessee has made a statement of facts, he can have no grievance if the taxing authority taxes him in accordance with that statement. If he can have no grievance, he can file no appeal. Therefore, it is imperative, if the assessee's case is that his statement has been wrongly recorded or that he made it under a mistaken belief of fact or law, that he should make an application for rectification to the authority who passed the order based upon the statement. Until rectification is made, an appeal is not competent." 7. It is observed that identical issue came up for hearing before the ITAT in ITA No.1204 to 1206/PUN/2017 for A.Y. 2011-12 to 2013-14 vide order dated 16....
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....t call for any interference. Accordingly, ground 3 of the assessee is dismissed." 8. During the hearing before us, the ld.AR could not prove how the said advertisement expenditure is wholly and exclusively for the purpose of the business. The ld.AR also could not rebut the fact that during the assessment proceedings, it was accepted by the ld.AR of the assessee that he is unable to substantiate and therefore agreed for the addition. In these facts and circumstances of the case, we are of the opinion that the expenditure of Rs.91,200/- incurred on advertisement was not wholly and exclusively for the purpose of the business of the assessee. Therefore, the AO has rightly disallowed the said expenditure, accordingly, ground no.1 of the asses....
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....gh Court of Gauhati in Smt. Bandana Gogoi Vs. CIT & Anr. (2007) 289 ITR 28 (Gau) in the absence of any other decision of any High Court in other State. In view of the above said position of law, we are departing from the view taken by Pune Bench of Tribunal in assessee's own case relating to assessment year 2010-11, wherein the order is dated 29.05.2015 but decision of the Hon'ble High Court of Kerala on the issue is dated 03.04.2014 was neither relied upon nor brought to the knowledge of Tribunal and the issue was decided against assessee. The issue raised in the present appeal stands fully covered by the decision of the Hon'ble High Court of Kerala (supra) though not the jurisdictional High Court, but the only decision available on the sa....
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....an amount of Rs.7,92,500/- which was interest paid to minor and Rs.2,60,181/- which was interest paid to unregistered firm. Before the ld.CIT(A), assessee had submitted that TDS was not deducted in the case of minors, because minors income is clubbed with their parents and parents are members, therefore, assessee was under bonafide belief that TDS deduction is not required in the case of minors. No specific submission has been made vis-à-vis interest paid to unregistered firm. As per the bylaws of the assessee, unregistered firm and minor are not eligible to be members. As per proviso to section 194A exemption is granted only to the members in case of co-operative societies. In the case of the assessee, it is an admitted fact that mi....