9911796707
TMI Blog2015 (8) TMI 1539X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377; 9,000/- being 10% of the job charges. Hence, this ground of appeal is allowed. Disallowance of administrative expenses - HELD THAT:- Addition has been made only on estimated basis by the AO and the ld. AO disallowed 20% of the administrative expenses and the ld. CIT(A) upholding the action of AO is totally unwarranted as the entire books of account and vouchers were duly produced by the assessee during the course of assessment proceedings. Without rejection of the books of account, the action of the ld. AO as well as the ld. CIT(A) erred in sustaining the addition on an estimated basis is arbitrary and unwarranted. Addition being professional fees received by the assessee from I.C.I.C.I. Prudential Life Insurance Corporation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee is engaged in the business of publications and training in different proprietorship concerns. During the course of assessment proceedings, books of accounts, bills and vouchers have been produced and the same were subjected to verification by the ld. AO on test check basis. These facts are undisputed and indisputable. The ld. AO disallowed a sum of ₹ 18,000/- being 20% of ₹ 90,000/- towards job charges on an adhoc basis for want of proper verifiable evidences. Aggrieved by this order, the assessee has challenged this issue before the ld. CIT(A), who upheld the disallowance of ld.AO but brought down the percentage of the disallowance to 10%. Aggrieved by this order, the assessee preferred an appeal before this Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f appeal is allowed. 8. The second issue to be decided in this appeal is disallowance of administrative expenses. 9. The brief facts of the case are that during the course of assessment proceedings, books of accounts, bills and vouchers have been produced and the same were subjected to verification by the ld. AO on test check basis. The ld. AO disallowed a sum of ₹ 9,372/- being 20% of ₹ 46,860/- towards administrative expenses on an adhoc basis for want of proper verifiable evidences. Aggrieved by this order, the assessee has challenged this issue before the ld. CIT(A), who upheld the disallowance of ld.AO. Aggrieved by this order, the assessee preferred an appeal before this Tribunal on the following ground : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xpenses. Hence, this ground of appeal is allowed. 14. The third issue to be decided in this appeal is as to whether the ld. CIT(A) is right in confirming the addition of ₹ 11,82,000/- being professional fees received by the assessee from I.C.I.C.I. Prudential Life Insurance Corporation Ltd. for A.Y.2008- 09. 15. The brief facts of the case are that the assessee is following the mercantile system of accounting and was entitled to a sum of ₹ 11,82,000/- as professional fees from I.C.I.C.I. Prudential Life Insurance Corporation Ltd in respect of services rendered during A.Y.2008-09. The assessee explained before the ld. AO that the said receipt though quantified by ICICI Prudential Insurance Corporation Ltd. but the same was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. The ld. AR of the assessee vehemently pleaded that it was not known to the assessee from ICICI Prudential Life Insurance Corporation Ltd. till 31.03.2008 and accordingly the assessee chose to offer the same in the year of receipt (i.e. A.Y.2009- 10) and hence, there is no deviation from the method of accounting regularly employed by the assessee. However, the ld. AR argued that there is no loss to the exchequer that the subject mentioned receipts have been voluntarily offered to tax by the assessee in A.Y.2009-10 and accordingly pleaded for the relief before me. In response to this, the ld. DR vehemently supported the orders of lower authorities. 18. I have heard the rival submissions. It is seen from the materials available on record ..... X X X X Extracts X X X X X X X X Extracts X X X X
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