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TMI Blog2025 (4) TMI 1487X X X X Extracts X X X X X X X X Extracts X X X X ..... ning the disallowance of Rs. 1,82,18,524/- made by the A.O. on account of oil and fuel expenses. 2. For that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in sustaining the disallowance of Rs. 53,40,091/- made by the A.O. on account of Truck Running Expenses as against 80,35,546/-claimed by the assessee. 3. (a) For that on the facts and in the circumstances of the case, the Ld. CIT(A) erred in sustaining the disallowance of Rs. 3,71,736/- made by the A.O. on account of finance charges paid for acquisition of self occupied house property. (b) For that the Ld. CIT(A) ought to have granted appropriate relief as per the provision of section 24(b) in regard to interest paid for acquisition of self occupied house p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e AO was confirmed by CIT(A). 4. After considering the rival submissions of the parties and perusing the material available on record, we find that the Assessing Officer has made the addition only on the ground that there was certain differences between the original return and the revised return filed by the assessee, wherein the amount of depreciation claimed in revised return of income and original return of income was Rs. 90,73,007/- and a similar difference was there in the oil and fuel expenses i.e. as per the revised return of income and as per the original return of income, there was an increase in the fuel and oil expenses to the tune of Rs. 90,73,007/-. Though the assessee furnished before the Assessing Officer the bills and vouch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,546/- claimed by the assessee which was affirmed by ld. CIT(A). 6. Facts qua the above ground are that the assessee has claimed truck running expenses amounting to Rs. 80,35,546/- and filed copy of account before the Assessing Officer. However, the Assessing Officer found that the assessee never produced vouchers or invoices, therefore, the Assessing Officer disallowed the expenses claimed by the assessee to the tune of Rs. 53,40,091/- out of total expenses on account of truck running expenses. The Assessing Officer worked out the ratio of these expenses to the total turnover in the preceding assessment years 2012-2013 at 2.13% vis-à-vis to the current year of 6.36% and restricted the allowance on account of truck expenses at Rs. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the interest on home loan is an allowable deduction u/s 24(b) and the possession of the flat is with the assessee and it is wholly for the purpose of self-occupation. The Assessing Officer also noticed that the assessee has tried to claim the full interest expenses by accounting same under the head finance charges. Thereafter the Assessing Officer referred to the reply of the assessee 17.3.2016 wherein the assessee stated that the interest on house loan is allowable u/s.24(b) of the Act and the observation about non-possession of the flat or not for self use by the assessee or given on rent is not at all correct. The possession of the flat is rightly with the assessee and is wholly for self-occupation. The Assessing Officer by disbeli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account of interest charges to the listed companies who offered to tax by them and, therefore, no disallowance is called for u/s.40(a)(ia) of the Act. In our opinion, this issue needs to be verified at the end of the Assessing Officer as to whether these companies have offered the tax in their income tax returns. Accordingly, the issue is restored to the file of the AO. The assessee shall be provided sufficient opportunity of hearing by the AO while deciding the issue. This ground of appeal of the assessee is allowed for statistical purposes. 14. The facts qua the ground NO.5 are that the Assessing Officer made the disallowance on the basis of list of secured loan takens from various banks on the ground that there was a difference in the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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