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Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI D. KARUNAKARA RAO & SHRI SAKTIJIT DEY
सुनवाई की तायीख / Date of Hearing : 29.08.2016 घोषणा की तायीख /Date of Pronouncement : 30.09.2016 आदेश / O R D E R
PER D. KARUNAKARA RAO, AM:
This appeal filed by the assessee on 11.1.2011 is against the order of the CIT (A)-24, Mumbai dated 30.11.2010 for the assessment year 2007-2008. In this appeal, assessee raised the following grounds which read as under:- “1. The Ld CIT (A) erred in disallowing u/s 40(a)(ia) an amount of Rs. 8,18,201/- being the amount of transportation charges paid to the following transporters.
1. Shivshakti Roadways Rs. 1,780/- 2. Raja Roadways Rs. 3,706/- 3. Kaka Roadways Rs. 42,340/- 4. Pearl Shipping Rs. 7,70, 375/- Total Rs. 8,18,201/-
2. The Ld CIT (A) erred in confirming the interest charged u/s 234B and 234C of the Act and in the facts and circumstances of the case and in law, the appellant denies its liability for payment of interest under any of the provisions of the Act.”
2. Briefly stated relevant facts of the case are that the assessee, who is engaged in the business of „export trade of processed minerals‟, filed the return of income declaring the total income of Rs. 90,91,430/-. Assessment was completed u/s 143(3) of the Act and determined the assessed income of Rs. 99,09,630/-. In the assessment, AO made disallowance of Rs. 8,18,201/- u/s 40(a)(ia) of the Act in respect of payments of Transportation Charges. Aggrieved, assessee carried the matter in appeal before the first appellate authority.