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TMI Blog2021 (4) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... es therefore. Disallowance depreciation on motor vehicles - AO and CIT-A disallowed the assessee's claim to the tune of 50% thereby alleging personal usage element of the corresponding assets - HELD THAT:- We find no reason to sustain the impugned reasoning in principle. More so when the assessee has not added any new asset in the corresponding block in the relevant previous year. The fact also remains that personal usage per se of the office vehicles cannot be altogether ruled out. Faced with this situation, we deem it appropriate to restrict the impugned depreciation disallowance to lumpsum amount of ₹ 1.5 lakhs only with a rider that the same shall not be taken as a precedent. The assessee's third substantive grievance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unexplained cash deposits and un-explained expenditure u/s. 68 and 69C of the Act to the tune of ₹ 4,18,963/- and ₹ 7,90,712/-; respectively. The assessee's only case is that its cash balances as per pg. 49 of the paper book are ₹ 52,174.20 along with unsecured loans and advances exceeding both these sums whereas the Assessing Officer's assessment order dt. 31-03-2015 has made both the impugned additions on the basis of the stray entries in isolation without examining all these corresponding details. We notice that the Revenue is also unable to rebut the clinching fact that the Assessing Officer has not discussed at all the cash balances in the relevant accounting period from 01-04-2011 to 31-03-2012 before making ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;s remuneration claim disallowance of ₹ 7,20,000/- in case of Ms. Samia Ali Khan. Relevant discussion in assessment order dt. 31-03-2015 in pgs. 12 to 13 take note of her clarification that she was not playing any key role. All this made the Assessing Officer to invoke the Section 40A(2) of the Act terming the impugned payment as excessive and unreasonable. We are unable to agree with the impugned amount disallowance as well since the said clarification had come on 16-01-2015 whereas we are in A.Y. 2012-13 only. It was made clear to the Assessing Officer that the said director had transformed the companies fortunes in designing and internal logistics which in turn helped it to secure in bulk corporate orders in regular course of busi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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