9911796707
TMI Blog2011 (9) TMI 1036X X X X Extracts X X X X X X X X Extracts X X X X ..... raised by the Revenue in this appeal. a) Whether, on the facts and circumstances of the case and in law, the Tribunal was justified in allowing personal expenses incurred as business expenditure ? b) Whether, on the facts and circumstances of the case and in law, the Tribunal was justified in allowing the personal expenses as business expenses even after the denial of cross examination b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the block period from 1st April 1997 to 13th May 2003. 3. A search and seizure operation was held at the premises of the assessee on 13th May 2003. In response to a notice issued under Section 158BC of the Income Tax Act, 1961, the assessee filed block return declaring undisclosed income of ₹ 30,00,000/. 4. In the block assessment order, the assessing officer disallowed personal exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f various expenses which were not recorded in the books of account in addition to the undisclosed income of ₹ 30,00,000/declared by the assessee. The Tribunal has held that though the assessee had declared undisclosed income of ₹ 30 lakhs that amount was not seized during the course of search and in the absence of any finding recorded by the assessing office regarding the utilization o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the order of the Tribunal. Accordingly, questions (c) and (d) cannot be entertained. 7. As regards question (e) is concerned, the assessing officer made addition of ₹ 7,37,000/being the expenses incurred by the assessee on behalf of associate concerns on the ground that the assessee has failed to prove that the expenses incurred were out of the funds withdrawn from the bank by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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