9911796707
TMI Blog2015 (3) TMI 223X X X X Extracts X X X X X X X X Extracts X X X X ..... A) shall give reasonable sufficient opportunity of being heard to the assessee. Disallowance of interest - assessee claimed interest as revenue expenditure against vehicle receipts - no evidence of interest payment was furnished - Held that:- Since the assessee is using these taxis for hire, therefore, interest was allowable deduction. The ld. CIT(A) without giving any reasons for decision, confirmed the addition, holding that no evidence has been filed. It, therefore, appears that this issue also requires re-consideration at the level of ld. CIT(A). The assessee is using taxis for hiring and claimed interest paid to the bank for loan taken against purchase of vehicle given on hire. Therefore, these facts should have been verified from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition of ₹ 1,50,000/-. The AO noted that the assessee has received ₹ 1,50,000/- being Sahmatikarta No. 2 in respect of one property deal between Raj Kumar Samadhiya and Others and Smt. Priti Pawaiya and others (seller and purchaser) plot No. 28/2505 size of 2850 sq. feet. The sellers paid entire amount of ₹ 24 lacs during the year and as such, ₹ 1,50,000/- were received by the assessee in the year under appeal, but has not offered for taxation. The addition of ₹ 1,50,000/- was accordingly made. The assessee claimed before the ld. CIT(A) that the addition of ₹ 1,50,000/- relates to assessment year 2009-10. Therefore, no addition could be made in the assessment year under appeal. The ld. CIT(A) on ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um of ₹ 42,741/- was disallowed. The assessee filed three hire agreements of taxis and one agreement of taxi taken on hire with the AO, which were not considered. Since the taxis were given on hire, therefore, there is no question of maintaining logbook and vouchers for expenses. As per hire agreements, all such expenses were to be born by the hirer. The ld. CIT(A), considering that no logbook is produced, confirmed the addition. 4. On consideration of the rival submissions, we are of the view that the matter requires reconsideration at the level of the ld. CIT(A).When the assessee has given vehicles on hire through hire agreement, there is no question of maintenance of any logbook or vouchers for expenses as is noted by the author ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so requires re-consideration at the level of ld. CIT(A). The assessee is using taxis for hiring and claimed interest paid to the bank for loan taken against purchase of vehicle given on hire. Therefore, these facts should have been verified from the record and the hiring agreements etc. The ld. CIT(A) did not pass any speaking order on this issue and no reasons have been given for confirming the addition. We accordingly, set aside the order of the ld. CIT(A) and restore this issue also to his file with direction to re-decide this issue by verifying the fact and by giving reasons for decision in the appellate order. Opportunity of being heard shall be given to the assessee. Ground No. 2 is allowed for statistical purposes. 6. On ground No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cordingly, set aside the order of the ld. CIT(A) and restore this issue also to his file with direction to re-decide this issue by verifying all the facts and by giving reasons for decision in the appellate order. Opportunity of being heard shall be given to the assessee. Ground No. 3 is also allowed for statistical purposes. 7. On ground No. 4, the assessee challenged the addition of ₹ 1,50,000/-. The AO noted that the assessee has received ₹ 1,50,000/- being Sahmatikarta No. 2 in respect of one property deal between Raj Kumar Samadhiya and Others and Smt. Priti Pawaiya and others (seller and purchaser) plot No. 28/2505 size of 2850 sq. feet. The sellers paid entire amount of ₹ 24 lacs during the year and as such, S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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