2025 (7) TMI 1115

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....) dated 27.09.2023 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 28.12.2019 by the Assessing Officer, ACIT, Circle-28(1), Delhi (hereinafter referred to as 'ld. AO'). 2. The first issue to be decided in this appeal of the revenue is as to whether the ld CIT(A) was justified in deleting the disallowance made in the sum of Rs. 1,83,57,397/- on account of payment made u/s 37(1) of the Act. 3. We have heard the rival submissions and perused the material available on record. The return of income for the AY 2017-18 was filed by the assessee on 31.10.2017 declaring total income of Rs. 10,54,01,650/-. The assessee was engaged in the business of mining, contractual wo....

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....,04,122/- c. Laxmi Narayan Patel (transporter)-AXMPP 7839C- Rs. 42,10,798/- d. Rajkumar Patel (transporter)-BGDPP 9980J- Rs. 16,98,336/- e. Raj Kumar Soni (transporter)-AOQPS 2722H- Rs. 26,43,495/- f. Shiv Kumar Patel (transporter)-CFAPP 5343A- Rs. 10,48,329/- g. T. R. Soni (transporter)-AOQPS 2721E- Rs. 38,72,308/- h. Umesh Kumar Trivedi (transporter) ARPPT 9253Q- Rs. 13,66,189     Rs. 183,57,397/- 4. For all these parties, the ld AO had observed that the assessee had submitted the copy of confirmations, copy of invoices and copy of bank statement. It was observed that the copy of bills submitted by the assessee was matching with the confirmation account and impres....

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....nsporters, name and address of the transporters and conformation of the parties. The ld CIT(A) also noted that the payments were made through regular banking channels. Hence we hold that the disallowances made by the ld AO u/s 37 of the Act with regard to payment made to the transporters have been rightly deleted by the ld CIT(A). Accordingly, Ground Nos. 1 and 2 raised by the revenue are hereby dismissed. 5. Ground Nos. 3 and 4 raised by the revenue are challenging the deletion of interest of Rs. 53,86,044/-. 6. We have heard the rival submissions and perused the material available on record. The assessee had debited total interest in its profit and loss account in the sum of Rs. 7,15,18,095/-. The assessee had indeed advanced intere....