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TMI Blog2017 (12) TMI 528X X X X Extracts X X X X X X X X Extracts X X X X ..... erest to ABN Amro, Bajaj Capital and Reliance Capital, totaling to Rs. 3,40,746/-. He failed to deduct TDS and therefore, with the help of Section 40(a)(ia), the ld. Assessing Officer has disallowed the expenditure. On appeal, ld. CIT(A) has confirmed the disallowance. 4. Before me, learned Counsel for the assessee, on the strength of the Hon'ble Gujarat High Court's decision in Tax Appeal No.626 of 2017 in the case of Principal Commissioner of Income-tax Vs. ASE Capital Markets Ltd, has contended that if the recipients have accounted the interest receipts in their taxable income, then no disallowance can be made in the hands of the assessee. Hon'ble Gujarat High Court has relied upon the judgment of Hon'ble Delhi Court in the case of CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd disallowed the same. 8. Appeal to the CIT(A) did not bring any relief to the assessee. 9. With the assistance of the learned representatives, I have gone through the record carefully. The assessee has submitted that he took a honeymoon package from PCFL Travel House. According to the assessee, it was only for the namesake "Honeymoon Package", but he did not go for honeymoon, because his marriage was taken place long back. However, after considering the record, I find that the assessee failed to bring any evidence on record demonstrating that the expenditure was incurred wholly and exclusively for the purpose of business. Learned CIT(A) has rightly confirmed the disallowance. I do not find any error in the order of the ld. CIT(A) and ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of Rs. 6,00,000/-, which was made by the Assessing Officer on account of discrepancy in the books of accounts. 15. The brief facts of the case are that the assessee has made payments towards credit card purchases. He has paid a sum of Rs. 1,91,800/- to Citi Bank and Rs. 1,20,249/- to Standard Chartered Bank. According to the assessee, these expenditures were incurred for the purpose of business. He contended that he has to employ a salesman for day-to-day business, and, in order to reimburse the petrol expenses to his staff, these two credit cards were used. The ld. Assessing Officer has observed that the assessee failed to submit any vouchers, bills, statement of the credit card for showing the nature of expenditure and how they have ..... X X X X Extracts X X X X X X X X Extracts X X X X
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