Assessee Rajesh Kumar Prop., Panipat ACIT, Panipat

Last updated: 04 December 2020

Court :
ITAT New Delhi

Brief :
This appeal is filed by the assessee against the order of the ld CIT(A), Karnal [ the ld CIT (A) ] dated 17.01.2017 for the Assessment Year 2012-13 wherein appeal filed by the assessee against the order passed by the Asst Commissioner of income tax, Panipat Circle Panipat [ The ld AO ] u/s 143 (3) of The Income Tax Act 1961 (The Act) dated 30 March 2015 assessing the total income of the assessee at Rs 1,77,77,567/– against the returned income of the assessee at ₹5,296,930/– making disallowance of Rs 1,24,80,637/– was reduced to 50% of the disallowance partly allowing the appeal.

Citation :
ITA No. 1546/De/2017

INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH “F”: NEW DELHI
BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER
AND
SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER
(Through Video Conferencing)
ITA No. 1546/De/2017
(Assessment Year: 2012-13)

Rajesh Kumar Prop,
N. W. Overseas, 42,Devi Murti
Coloy, Panipat
(Appellant)

Vs.

ACIT,
Panipat Circle,
Haryana
(Respondent)

Assessee by : Shri Rakesh Jain, Adv
Shri Gurjeet Singh, CA
Revenue by: Shri Ramesh Kumar, SR. DR
Date of Hearing 24/11/2020
Date of pronouncement 02/12/2020

O R D E R

PER PRASHANT MAHARISHI, A. M.

1. This appeal is filed by the assessee against the order of the ld CIT(A), Karnal [ the ld CIT (A) ] dated 17.01.2017 for the Assessment Year 2012-13 wherein appeal filed by the assessee against the order passed by the Asst Commissioner of income tax, Panipat Circle Panipat [ The ld AO ] u/s 143 (3) of The Income Tax Act 1961 (The Act) dated 30 March 2015 assessing the total income of the assessee at Rs 1,77,77,567/– against the returned income of the assessee at ₹5,296,930/– making disallowance of Rs 1,24,80,637/– was reduced to 50% of the disallowance partly allowing the appeal.

2. The assessee has raised the following grounds of appeal:-

“1. Because the action for making disallowance of commission expenses for Rs. 41,19,626/- (50% of Rs 82,39,253/-), is being challenged on facts & law alongwith the challenge to percentage of disallowance.

2. Because the action for disallowance of installation charges Rs. 2,75,375/- (25% of Rs. 11,01,500/-) is being challenged on facts & law alongwith the challenge to percentage of disallowance.

3. Because the action for declining the benefit of deduction is being challenged on facts & law for non deduction of TDS on the amount of Rs. 1,12,768/- u/s 40(a)(ia) r.w 194C.

4. Because the action for declining the claim of interest expenses of ? 1,00,000/- is being challenged on facts & law.

5. Because the action for upholding the disallowance of payment of interest of Rs. 2,85,600/- (12% of 23,80,000/-) u/s 36(l)(iii) is being challenged on facts & law pursuant to the principle of commercial expediency and business exigency.

6. Because the action for total disallowances of Rs. 14,54,692/- on under mentioned expenses are being challenged on facts & law alongwith percentage of disallowances:-
- Expenses of Diwali Rs. 64,141 /- (10% of 6,41,415/-)
- Business promotion Rs. 76,058/- (10% of 7,60,576/-)
- Conference charges Rs. 1,83,654/- (10% of 18,36,544/-)
- Conveyance Rs. 1,03,578/- (10% of 10,35,775/-)
- Entertainment Rs. 31,955/- (10% of 3,19,550/-)
- Travelling Rs. 9,95,007/- (10% of 99,50,068/-)

To know more in details find the attachment file