9911796707
TMI Blog2015 (7) TMI 945X X X X Extracts X X X X X X X X Extracts X X X X ..... er u/s 144 of the I.T. Act, 1961. 2. The Ld. CIT(A) erred on facts and in law in dismissing the additional ground taken by the appellant that the profit of Rs. 2,86,25,894/-was inclusive of reversal of NPA provisions of Rs. 2,01,97,000/-initially made by the appellant in A.Y, 2004-2005 and 2006-2007 respectively without appreciating the fact that the profit to the extent of Rs,2,01,97,000/- was only the book entry and not the actual profit. 3. The Ld. CIT(A) erred on facts and in law in confirming the disallowance of Rs. 1,23,207/- out of total disallowance of Rs. 2,46,413/- made by the Assessing Officer without appreciating the fact that the appellant is a bank and all the expenses debited to its profit & loss account are duly supported with proper bills/ vouchers and the assessing officer completely failed to bring any specific defects in the books to support his action. 4. The Ld. CIT(A) erred on facts and in law in confirming the addition of Rs. 2,58,538/-out of total addition of Rs. 3,53,36,493/- made by the Ld. Assessing Officer by invoking the provisions of section 40(a)(ia) of the I.T. Act, 1961 without appreciating the facts of the case of the appellant. 5. The Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .Y As per Assessee As per record 2007-08 42,77,000 42,77,000 2008-09 18,33,000 18,33,000 2009-10 2,83,63,000 2,83,34,000 2010-11 1,11,71,000 (A.Y. 2004-05)+90,26,000 (A.Y. 2006-07) 1,11,71,000 (A.Y 2004-05)+90,26,000 (A.Y 2006--07) Total till 2010-11 4,56,44,000 (A.Y. 2004-05) + 90,26,000 (A.Y. 2006-07) 4,56,15,000 (A.Y.2004-05 + 90,26,000 (A.Y.2006-07) 6. For assessment year 2009-10, the assessee has credited Rs. 1,05,08,000/- under the head "reversal for provision of overdue interest" and Rs. 1,78,26,000/- under the head "reversal for provision of NPA loan". The total of these come to Rs. 2,83,34,000/-. Thus there is a difference of Rs. 59,000/- less credited by the assessee under these heads in the profit and loss account. For assessment year 2008-09 in the profit and loss account an amount of Rs. 18,33,000/- is credited under the head "others" (reversal of excess for provision of NPA) and an amount of Rs. 42,77,000/- for assessment year 2007-08. For assessment year 2010-11, the assessee has credited Rs. 2,01,97,000/- (Rs.1,49,40,000 + Rs. 52,57,000) under the head "reversal of provision of NPA" (interest, etc.). This amount is inclusive of Rs. 1,11,71,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fficer for verification of facts. 11. In the light of rival submissions, we are of the view that the Assessing Officer is required to assess proper income in the hands of the assessee. Therefore, the events of earlier years should be kept in mind while computing the real income of the assessee. Since the assessee has placed evidence with respect to the provisions of NPA in earlier years, the said facts require a proper verification. We accordingly modify the order of the ld. CIT(A) and direct the Assessing Officer to examine the claim of the assessee in the light of earlier assessment orders relevant to the assessment years 2004-05 and 2006-07. 12. Apropos ground No.3, it is noticed that for want of production of the books of account and verification of bills and vouchers of the expenses during the assessment procedings, the Assessing Officer has made ad hoc addition of Rs. 2,46,413/- on account of possible leakage. 13. The ld. CIT(A) has reduced the same to Rs. 1,23,207/-. 14. The assessee is still aggrieved with the said ad hoc addition and has preferred an appeal before the Tribunal with the submission that the Assessing Officer has not pointed out any specific defect in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 25,96,245/- is in excess of Rs. 10,000/- attracting the provisions of TDS. It was also observed by the ld. CIT(A) that the assessee has received form 15H against various payment of interest of aggregating Rs. 23,37,702/-. Though the ld. CIT(A) has also recorded in his order that form 15H are placed on record, on which comments of the Assessing Officer was sought. 18. Being aggeed with the contentions of the assessee, the ld. CIT(A) has held that out of total payment of interest of Rs. 3,55,95,031/-, payments in excess of Rs. 10,000/- have been only of Rs. 25,96,245/- against which assessee has furnished form 15H of aggregating Rs. 23,37,707/-. Thus there is a payment of interest of Rs. 2,58,538/- which attracts the provision of TDS. He accordingly restricted the addition to Rs. 2,58,538/-. 19. Aggrieved with the order of the ld. CIT(A), the assessee as well as the Revenue are in appeal before the Tribunal. 20. The ld. D.R. has contended that though the ld. CIT(A) has recorded in his order that form 15H are placed on record, but there is no evidence on record with regard to the filing of form 15H before the ld. CIT(A) and the comments sought from the Assessing Officer. The ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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