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TMI Blog2014 (4) TMI 773X X X X Extracts X X X X X X X X Extracts X X X X ..... Disallowance of expenditure claimed – Held that:- CIT(A) partly confirmed the amount – there is no reason to differ from the disallowance made by the CIT(A) – AO has no basis to disallow the entire expenditure out of the commission earned – the order of the CIT(A) upheld – Decided against Revenue. - ITA. No. 1899/Hyd/2011, ITA. No. 1882/Hyd/2011 - - - Dated:- 21-3-2014 - Shri B. Ramakotaiah And Shri Saktijit Dey,JJ. For the Petitioner : Mr. K. A. Sai Prasad For the Respondent : Mr. Solgy Jose T. Kottaram ORDER Per B. Ramakotaiah, A. M. These two cross-appeals are by Assessee and Revenue against the Order of the CIT(A)-VII, Hyderabad dated 29.08.2011. The issue in this appeal is with reference to the addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and has filed confirmations to an extent of Rs. 2 lakhs only did not believe the gift and made addition of the entire amount of Rs. 3.6 lakhs. A.O. further noted that assessee has received gift of Rs. 2.4 lakhs from the wife whereas, he has admitted to have been received Rs. 8 lakhs. Therefore, A.O. disbelieved the loan stated to have been received from wife at Rs. 2.4 lakhs and further added the difference of Rs. 5.6 lakhs, thus, making total addition of Rs. 8 lakhs. Likewise, even though assessee claimed to have stated Rs. 4 lakhs received from the chits, A.O. made an addition of Rs.4,20,000/- stated to have been the actual amount received from two chits. Further, assessee has shown loans from some known persons to an extent of Rs.3,40, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sons comes to around Rs.12 lakhs. As against this amount, A.O. stated to be on the affidavit filed by assessee took into consideration the investment in purchase of the site at Rs.18,91,462/-. It was the submission of the assessee that there is no such affidavit filed and the entire amount was considered wrongly by the A.O. Further, as seen from the record also, assessee took credit for the gift amount of Rs. 2 lakhs from the father which was confirmed whereas, on the basis of the amount mentioned in the Balance Sheet, A.O. brought to tax an amount of Rs. 3.6 lakhs. Further, amount received from the wife was only Rs.2.4 lakhs as per the P L Account whereas, A.O. considered an amount of Rs. 8 lakhs. Even the chit amounts and other amount ..... X X X X Extracts X X X X X X X X Extracts X X X X
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