9911796707
TMI Blog2022 (9) TMI 334X X X X Extracts X X X X X X X X Extracts X X X X ..... n submissions, we are of the view that this issue needs to be verified by the AO, before whom the assessee will file necessary details/evidences in support of this ground/claim. In addition to this, the assessee can also provide proof of alleged amount being offered to tax by the M/s. Kotak Prime Ltd. and if requisite certificate of the Chartered Accountants is obtained in the prescribed format evidencing that the alleged amount has been offered as revenue and due taxes have been paid, then the AO shall grant relief to the assessee by not making disallowance u/s. 40(a)(ia) of the Act of the alleged amount. Thus, ground No. 2 raised by the assessee is allowed for statistical purpose. Disallowance of donation and subscription - HELD T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1) That the Assessment Order passed by Ld. CIT(A)-4/Kolkata u/s. 143(3) of Income Tax Act 1961 is unlawful, unwarranted against Natural Justice. 2) That the Addition of Rs. 1,93,407 being Interest on Car Loan paid to Kotak Mahindra Pvt. Ltd. without deduction of TDS is unwarranted uncalled for as Kotak Mahindra Pvt. Ltd. is a wholly owned subsidiary of Kotak Mahindra Bank and has been in the list of notified exempted institution under section 194a(iii)(f) of Income Tax Act, 1961. So Relief claimed Rs. 1,93,407/- 3) That the addition of Rs. 37,776/- on account of Donation subscription for the whole year is against the principle of natural justice as the said expenses have been incurred for the whole year including for Vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d no adjudication. 10. Ground No. 2 relates to disallowance/addition of interest on car loan paid to M/s. Kotak Mahindra Pvt. Ltd. at Rs. 1,93,047/- for non deduction of tax at source thereby making disallowance u/s. 40(a)(ia) of the Act. In the impugned order the Ld. CIT(A) has observed that the assessee did not press this ground before him and therefore, the same was dismissed. Before us the assessee has again raised this ground stating that M/s. Kotak Prime Ltd. is a subsidiary of M/s. Kotak Mahindra Bank and is in the list of notified exempted institution as provided in section 194A(iii)(f) of the Act. Since the assessee is neither present before us in the hearing nor placed any material to support/substantiate this claim through wri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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