9911796707
TMI Blog2021 (12) TMI 868X X X X Extracts X X X X X X X X Extracts X X X X ..... onus, of so, on what dates. CIT(A) failed to do so. As per the details submitted before us on 23/11/2021 the bonus has been paid on 30/04/2013, 15/05/2013 and 30/05/2013, which is much before the filing of return of income u/s 139(1). Therefore, we set aside the order of the CIT(A) and direct the AO to allow the assessee s claim of bonus. Disallowance of expenditure on sales - AO disallowed 10% of the salary expenditure on the ground that the appellant did not provide identification documents of few employees as requested by him - HELD THAT:- Assessee failed to provide the complete identification documents of the employees and has submitted on 23/11/2021 only for 24 employees. Therefore, to meet the ends of justice, we restrict the dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Payable, Salaries and Cash credits in capital account. 2. Both in law and in Facts of the case, the order made by the Ld. Commissioner of Income Tax (Appeals) 7, Hyderabad is bad in law, arbitrary, contrary to the provisions of law and against the principles of natural justice. 3. The Ld. Commissioner of Income Tax (Appeals) 7, Hyderabad should have considered the fact that bonus outstanding amounting to ₹ 15,75,OOO/- as on 31-03-2013 was paid before the due date of furnishing the return of income. Any sum paid to an employee as bonus is allowable under clause (ii) of sub-section 1 of section-36 of Income Tax Act, 1961. As per section-43(B) of The Income Tax Act, 1961 sums referred to in section-36 (l)(ii) shall be allowed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appellant filed his return of income for the A.Y.2013-14 on 15.09.2013 declaring total income of ₹ 12,21,870/-. The return was processed u/s.143(1) of the I.T. Act on 05.03.2015 resulting in Nil-. Subsequently, the case was selected for scrutiny under CASS and accordingly, Notice u/s.143(2) was issued. The AO completed the assessment u/s.143(3) of the Act on 30-3-2016 determining total income at ₹ 40,23,529/- by making various additions. 3. Aggrieved by the order of AO, the assessee preferred an appeal before the CIT(A), who confirmed the order of AO. 4. Aggrieved by the order CIT(A), the assessee is in appeal before the ITAT. 5. Assessee has raised 7 grounds of appeal, out of which, ground Nos. 1, 2, 6 7 are gener ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urnished Annexure 1, in which the details of employees, amounts paid signature without the date of payment. The reason has taken by the CIT(A) for confirming the addition that date of payments were not mentioned, is not sufficient to dismiss the ground. He ought to have made an enquiry with the employees who have got the payment of bonus whether the have received the payment of bonus, of so, on what dates. The CIT(A) failed to do so. As per the details submitted before us on 23/11/2021 the bonus has been paid on 30/04/2013, 15/05/2013 and 30/05/2013, which is much before the filing of return of income u/s 139(1) of the Act. Therefore, we set aside the order of the CIT(A) and direct the AO to allow the assessee s claim of bonus of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tiny proceedings the assessee submitted the reconciliation of capital A/c. From the statement submitted the AO noticed that the assessee had credited ₹ 10,000/- on 25/08/2012, ₹ 20,000/- on 12/10/2012, ₹ 15,000/- on 13/12/2012, ₹ 20,000/- on 19/08/2012 by way of cash to the capital A/c and the capital Ale has Increased by ₹ 65, 000/-. The assessee has also submitted a copy of the cash book maintained by the assessee during the course of business carried out by him. From the cash book the AO noticed that there are no entries in the cash book regarding the above mentioned cash addition made to the capital A/c. Hence the AO treated an amount of ₹ 65,000/- as unexplained investment and the same was added to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
