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TMI Blog2018 (1) TMI 1685X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 40(a)(ia) for non deduction of tax u/s 194A from financial charges paid to M/s Tata Motors Finance Ltd. And M s Magma Fin. Corp. Ltd., rejecting the explanations filed, Prayed that disallowance of Rs, 21,86,031/- is unjustified and be deleted. 2. That under the facts and the law, the learned CIT (A) erred in not following the judicial discipline in confirming the disallowance u7s 40(a)(ia) amounting to Rs.21,86,031/- by not considering the decision of Agra Bench of Hon'ble Income Tax Appellate Tribunal in Rajiv Kuniar Vs CIT reported in 109 DTR 33 relied upon by the appellant wherein it was held that proviso inserted to sec. 201(1) & 40(a)(ia) by Finance Act 2012 w.e.f 01. 02.2012 was having retrospective effect. 3. That the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... siness of transportation and the Assessing Officer found that the assessee has claimed an amount of Rs.4,10,46,223/- under the head truck running and Rs.9,17,00,267/- under the head "transportation". The Assessing Officer found that some vouchers are missing and most of them are internal and, therefore, not amenable for verification. Further the management of records is also very poor. As the vouchers are not complete and are not available, the Assessing Officer found that there is possibilities of inflation of expenditure in order to reduce the tax and, accordingly, disallowed Rs.8,00,000/- on adhoc basis. Similarly, the Assessing Officer, on perusal of profit and loss account found that the assessee has claimed various expenses on conve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmation was not available with the Assessing Officer. Considering the overall aspect of the fact that NBCSs have offered its income, the matter has to be verified by the Assessing officer. Accordingly, we remit this issue to the Assessing Officer to verify the claim of the assessee and pass order as per law. 10. On the second disputed issue with respect of disallowance on truck running and transportation expenses, ld A.R. emphasized that the assessee is maintaining books of account and having vouchers. The Assessing Officer has not specified any particular voucher which is not verifiable and making adhoc disallowance. The Assessing Officer has not specified that the bills are not genuine. The Assessing officer has not doubted the genuinen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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