Indo American Optics Ltd. v. Deputy Commissioner of Income-tax, Circle-4, Ahmedabad
[Citation -2016-LL-1020-62]

Citation 2016-LL-1020-62
Appellant Name Indo American Optics Ltd.
Respondent Name Deputy Commissioner of Income-tax, Circle-4, Ahmedabad
Court ITAT-Ahmedabad
Relevant Act Income-tax
Date of Order 20/10/2016
Assessment Year 1995-96
Judgment View Judgment
Keyword Tags interest payment • cash payment • personal purpose
Bot Summary: The assessee is aggrieved by the disallowances/additions made by the A.O. vide order dated 30.03.1998 made u/s. While completing the assessment, the A.O. had made following additions/disallowances:- i) Disallowance of cash payment Rs. 4,35,625/- exceeding Rs. 10,000/- ii) Entertainment expenses Rs. 15,000/- iii) Vehicle expenses Rs. 20,000/- iv) Interest Payment Rs. 1,64,878/- v) Other expenses Rs. 30,000/- vi) Depreciation on vehicles Rs. 44,505/- Total Rs. 7,10,008/- 3. CIT(A) for giving another opportunity to the assessee. We, accordingly, direct the A.O. to delete the addition of Rs. 20,000/- and 44,505/-. This leaves with the balance of Rs. 6,45,503/-. To put an end to unnecessary prolong litigation, we direct the A.O. to restrict the disallowances/ additions to Rs. 3,22,751/-. The assessee will get part relief and the appeal by the assessee is partly allowed.


IN INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH (BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & SHRI S. S. GODARA, JUDICIAL MEMBER) ITA. No: 1598/AHD/2013 (Assessment Year: 1995-96) INDO AMERICAN Deputy Commissioner of OPTICS LTD. IOL House, Income Tax, Circle-4, Nr. Swati Apartments, Ahmedabad Ambawadi, Ahmedabad- 380015 (Appellant) (Respondent) PAN: AAACI4390L Appellant by : Shri Anil Kshatriya, AR Respondent by: Shri Pradipkumar Majumdar, Sr. D.R. ORDER Date of hearing : 17 -10-2016 Date of Pronouncement : 20-10-2016 PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. This appeal by Assessee is preferred against order of Ld. CIT(A)-VIII, Ahmedabad dated 15.03.2013 pertaining to A.Y. 1995-96. 2 ITA No1598/Ahd/2013 . A.Y. 1995-96 2. assessee is aggrieved by disallowances/additions made by A.O. vide order dated 30.03.1998 made u/s. 143(3) of Act. While completing assessment, A.O. had made following additions/disallowances:- i) Disallowance of cash payment Rs. 4,35,625/- exceeding Rs. 10,000/- ii) Entertainment expenses Rs. 15,000/- iii) Vehicle expenses Rs. 20,000/- iv) Interest Payment Rs. 1,64,878/- v) Other expenses Rs. 30,000/- vi) Depreciation on vehicles Rs. 44,505/- Total Rs. 7,10,008/- 3. Similar additions/disallowances were made in first round of litigation where matter travelled up to Tribunal and Tribunal vide order dated 10.03.2006 in ITA No. 494/Ahd/2001 had set aside matter to files of ld. CIT(A) for giving another opportunity to assessee. 4. We find that in spite of six notices, assessee took adjournment on all occasions and First Appellate Authority was left with no choice but to decide appeal ex parte and confirmed additions/disallowances made by A.O. Before us, ld. counsel for assessee stated that issue may be decided on compassionate ground. We find that assessee/ appellant is listed Public Ltd. Company, therefore, there cannot be any personal element so far as vehicle expenses and depreciation on vehicles 3 ITA No1598/Ahd/2013 . A.Y. 1995-96 are concerned. We, accordingly, direct A.O. to delete addition of Rs. 20,000/- and 44,505/-. 5. This leaves with balance of Rs. 6,45,503/-. ld. counsel agreed for upholding disallowance @ 50% i.e. Rs. 3,22,751/-. To put end to unnecessary prolong litigation, we direct A.O. to restrict disallowances/ additions to Rs. 3,22,751/-. assessee will get part relief and appeal by assessee is partly allowed. Order pronounced in Open Court on 20 - 10- 2016. Sd/- Sd/- (S. S. GODARA) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Ahmedabad: True Copy Rajesh Copy of Order forwarded to:- 1. Appellant. 2. Respondent. 3. CIT (Appeals) 4. CIT concerned. 5. DR., ITAT, Ahmedabad. 6. Guard File. By ORDER Deputy/Asstt.Registrar ITAT,Ahmedabad Indo American Optics Ltd. v. Deputy Commissioner of Income-tax, Circle-4, Ahmedabad
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