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TMI Blog2011 (6) TMI 907X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has shown receipts of ₹ 3,75,265/- from Tanker running and claimed expenses of ₹ 4,60,481/- and thus claimed loss of ₹ 85,217/-. A.O. asked the assessee to produce vouchers but vouchers were not produced except few bills of diseal. The A.O. rejected the loss and made addition of ₹ 1,50,000/- under the head tanker running. 5. Before the Ld.CIT(A), the assessee submitted as under :- The A.O. has disallowed ₹ 1,50,000/- out of expenses of ₹ 4,60,481/- shown by the assessee regarding tanker. The disallowance has been without any basis. The appellant has produced the vouchers for measure expenses regarding diesel and particulars regarding wages paid to driver and khalasi. The income Tax Of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vouchers. AO has rightly estimated income from tanker running business at ₹ 1,50,000/-. The addition is confirmed. Ground No.2 of the appeal is thus dismissed. 7. We have heard both the parties. Details of tanker running expenses are available at page 7 of the paper book of the assessee. The a/c is as under :- Diseal 2,98,921 TDS 8422 Wages 92,400 Hire charges 2,66,843 Tyres 25,100 Loss 85,217/- Repairing 19,888 Insurance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 47,070/- and Smt.Santra Devi ₹ 49,708/- totaling to ₹ 1,23,370/- on the ground that interest paid to each one them is above ₹ 5,000/- and TDS has not been deducted and therefore the expenses are not allowable under Section 40(ia) of Income Tax Act, 1961. Each one of the above persons given a declaration in Form 15G and therefore the deduction was not made by the appellant Appellant submitted that copy of the Declaration was filed with the Income Tax Officer. Income Tax Officer, has not relied upon the acknowledgement for the reason that on the acknowledgement there is no signature of the person receiving the same in the office and further that the declaration should have been filed with the Commissioner of Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore the A.O. was not justified in not allowing the expenses of interest paid. 12. The Ld.CIT(A) confirmed the action of the A.O. after observing as under :- Argument of the appellant is not acceptable. As mentioned by AO in the assessment order, there is no entry of receipt of Form No. 15G in his office as claimed by appellant. Moreover the appellant was required to file Form No.15G in the office of CIT, Kota. In this case neither Form No.15G were filed in the office of CIT, Kota nor in the office of AO. In such a situation the disallowance of ₹ 1,23,370/- made by AO u/s 40(a)(ia) is justified and the same is confirmed. 13. We have heard both the parties. Section 194A requires the assessee to deduct tax at source from i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year. In the valuation report it has been specified that only 1St and second floor are unfinished but basement and ground floor are complete. Further it has also been mentioned that the house is self occupied by the owner. Copy of Valuation report is submitted herewith. Another reason which has been mentioned by A.O. is that Ration card and Telephone Bill are in the name of Shri Pawan Agarwal. It is, respectfully submitted that merely because the address has not been got changed by Shri Pawan Agarwal no inference can be drawn against appellant. As the appellant occupied the house during the previous year appellant is entitle to deduction of interest paid on money borrowed. 17. The Ld.CIT(A) confirmed the action of A.O. after observin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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