2023 (8) TMI 513

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....-DR ORDER PER DR. DIPAK P. RIPOTE, AM: This is an appeal filed by the Assessee against the order of ld. Commissioner of Income Tax (Appeals), Bikaner dated 31.12.2019 emanating from the order of Income Tax Officer, Ward-1, Sri Ganganagar under section 143(3) of the Act for A.Y. 2015-16. The grounds of appeal raised by assessee are as under:- "1. In facts and circumstances, Ld. CI....

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....fied by disallowance of claim for interest u/s 36(1)(iii) or u/s 37 because no interest bearing funds was used this year for such interest-free advance/loan and adequate interest-free creditors worth Rs. 1,25,86,893 also were available. 3. Charging of interest U/s 234D is against law & facts." Findings & Analysis 4. Heard the Ld. DR and perused the records. None appeared on behalf o....

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....o, assessee has not filed any document to prove the genuineness of the expenditure claimed other than the ledger accounts. It is observed from the ledger accounts of the car expenses that most of the expenses are in cash. In these facts and circumstances of the case, since assessee failed to produce the documentary evidence to substantiate the claim of expenditure. We agree with the disallowance m....