9911796707
TMI Blog2022 (10) TMI 533X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax (Appeals)-22, New Delhi (hereinafter referred to as the First Appellate Authority in short 'Ld. F.A.A.') in regard to the appeal before it arising out of assessment order dated 28/03/2013 u/s 143(3) of the Income Tax Act, 1961 passed by ACIT, New Delhi (hereinafter referred to as the Assessing Officer 'AO'). 2. The facts in brief are the appellant/ assessee filed return of income declaring total income of Rs. 5,64,34,442/- which was processed u/s 143(1) on 13.04.2011. The case was selected for scrutiny and notice u/s 143(2) was issued. The Ld. AO observed that the assessee did not deduct tax at all in respect of expenses totaling to Rs. 19,63,146/-. The assessee has claimed that due date of filing return was extended up to 15.10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e difference between balance as per the assessee and balance as per confirmation by the parties u/s. 41(1) of the I.T. Act, 1961. 3. That the Ld. CIT(A)-22, Delhi is sustaining the above disallowance/addition has not appreciated the submission/evidence filed by the appellant before the assessing officer and in appellate proceeding. The order on this count in vitiated and the addition are liable to be deleted. 4. That the assessee prays for leave to add, amend, alter or withdraw any of the Grounds of Appeal either before or at the time of hearing of the appeal" 3. At the same time, the Ld. AO had inquired into the unsecured loan of Rs. 30,00,000/- received by the assessee from Sh. K.M.Kshetry for which the assessee claimed that it ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e or during the hearing of this appeal." 5. Heard and perused the record. 6. Ground no. 1 in appeal of assessee ITA No.306/Del/2020. It can be observed that Ld. CIT(A) while referring to Section 40(a)(ia) of the Act has held that if the tax is deducted in any subsequent year, the expenditure will be deducted in the year in which TDS will be deposited by the assessee. As admittedly assessee could not establish that tax was not deducted in the relevant previous year and merely claimed that it was deposited on 05.10.2010 i.e. before extended due date of filing return on 15.10.2010. The assessee will be entitled to deduction of expenditure in the subsequent year in which TDS is deposited. Accordingly, no interference is required in the findi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... substantiate the addressee or other details of the parties for confirmation. Thereafter, L. AO had added back the amount to the total income of the assessee. Even at the stage of appellate proceedings the assessee has produced only Ledger account and no authenticity of the same can be examined without supporting evidentiary document. The assessee has not submitted the any other details to substantiate the genuineness and creditworthiness of the transaction. Therefore, the Ledgers given by the assessee on account of sundry creditors are also liable to be rejected. " 8. Now as a matter of fact Ld. CIT(A) while dealing with other additions made by Ld. AO for a sum of Rs. 1,52,47,641/- u/s 41(1) of the IT Act has deleted the addition while o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that Ld. CIT(A) failed to appreciate that in regard to the amount deposited with HUDA in 2005, the assessee introduced it as a loan only year, 2010. It was submitted that the information available in the impugned order does not show if Ld. CIT(A) had taken into consideration the fact as to in whose name the draft was prepared and tendered with HUDA and what was the source of Sh. K.M. Kshetry. It was submitted even the question of payment of interest on the fixed deposited required indulgence of the Tax Authorities and therefore the issue having loose ends should be restored for verification. 11. On behalf of the assessee it was submitted that the amount of Rs. 35,00,000/- was deposited by one of the Directors Sh. K.M. Kshetry di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TA no. 837/Del/2020. It can be observed that in para no. 8.1. Ld. CIT(A) mentions that relevant information was submitted by the assessee vide letter dated 18.03.2013 but same were not taken into consideration by Ld. AO. He has specifically mentioned that assessment record was called and it was found that confirmation from four creditors in which additions were made were submitted by the appellant before Ld. AO vide letter dated 18.03.2013. The letter dated 18.03.2013 has also been placed before this bench and it shows that annexure 2 to 5 being letters of confirmations were submitted before the Ld AO also but he did not take them into consideration. The subsequent payment to these creditors add genuineness to them and Ld. CIT(A) has rightl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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