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TMI Blog2016 (12) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the assessment order 13th December, 2011 passed by the learned Assessing Officer (hereinafter called "the AO") u/s 143(3) of the Income Tax Act,1961 (Hereinafter called "the Act"). 2. 2. The grounds of appeal raised by the assessee in the memo of appeal filed with the Income-Tax Appellate Tribunal, Mumbai (hereinafter called "the tribunal") read as under:- "1. The Ld. CIT(Al erred in confirming addition to total income of a sum of Rs. 11,798/- on account of sale bill which was not realized. 2. The Ld. CIT(Al erred In confirming the addition of a sum of Rs. 69,713 / - out of expenses for want of justification. 3. The Ld.CIT (Al erred in confirming addition of a sum of Rs. 8000/- on account of excess rent paid. 4. The Ld.CIT (Al erre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also, vide appellate order dated 30-01-2014 passed by learned CIT(A). Aggrieved by the appellate order dated 30-01-2014 passed by the Id. CIT(A) , the assessee filed second appeal before the Tribunal. Before the Tribunal also neither any satisfactory explanation nor any evidence could be offered by the assessee. The only submission was made by the learned counsel for the assessee that there was dispute with the party and the bill was cancelled. The Id. D.R. on the other hand relied on the orders of authorities below. We have considered the rival contentions and also perused the 'material available on record. We have observed that the assessee has earned contractual receipts of Rs. 11,798/ - from Kaapi Machines (India) Pvt. Ltd. who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lls, vide assessment order dated 13.12.2011 passed u/s 143(3) of the Act. On first appeal being filed by the assessee with the learned CIT(A) , the Id. CIT(A) also upheld the additions as made by the A.O. on the grounds that the assessee had failed to prove that the expenditure was incurred wholly and exclusively for the purposes of business and also the assessee could not produce complete details and bills/vouchers, vide appellate orders dated 30- 01-2014 passed by the learned CIT(A). Aggrieved by the appellate orders dated 30-01-2014 passed by the Id. CIT(A) the assessee filed second appeal before the tribunal. Before the tribunal, the Id. Counsel for the assessee submitted that addition of Rs. 69,713/ - has been made @ 25% of the tota ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the afore-stated expenses is restricted to 10% of the total expenditure of Rs. 2,78,851/- which comes to Rs. 27,885/-, as against disallowance of Rs. 69,713/-made by the authorities below. Thus, ground no. 2 is disposed of being partly allowed as indicated above. We order accordingly. 6. Coming to the third grounds of appeal raised by the assessee in memo of appeal filed with the tribunal, the A.O. observed that there was a discrepancy of Rs. 8000/- relating to the excess rent paid as per assessee's P& L A/ c of Global Tech Solutions vis-a-vis rent agreement, which was disallowed by the AO and consequently added by the A.O. to the income of the assessee. The A.O. asked for the explanation but the assessee offered no explanation and hen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hrough account payee cheques. It was submitted by learned counsel for the assessee that no new agreement has been entered into with the landlord for revised rent. The Id. D.R. on the other hand relied on the orders of the authorities below and submitted that payment of Rs. 8000/- is not a genuine business expenditure and the A.O. has rightly disallowed the same. We have considered the rival contentions and also perused the material available on record. We have observed that the assessee has entered into rent agreement with the landlord which is an old agreement and no revised agreement is entered into by the assessee with the landlord for increased rent, and the assessee is contending that the rent has been revised upward but there is no w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he A.O. observed from the Balance Sheet of M/s Global Tech. Solutions and other Balance Sheet of Global Tech. Solutions that the assessee had shown sundry deposit of Rs. 25,000 j - each in both the balance sheets'. When asked by the A.O., the assessee could not submit any satisfactory explanation regarding the source/evidence thereof these sundry deposits of Rs. 50,000/-. The A.O. accordingly treated it as unexplained investment u/s 69 of the Act and added back the same to the income of the assessee, vide assessment order dated 13.12.2011 passed by the AO u/ s 143(3) of the Act. Aggrieved by the assessment order dated 13.12.2011 passed by the A.O. u/s 143(3) of the Act, the assessee filed first appeal before the Id. CIT(A). The Id. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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