MANISH MAHESHWARI,GWALIOR vs. JCIT RANGE-2, GWALIOR
In the result, appeal of the assessee is partly allowed
ITA 308/AGR/2015[2010-11]Status: DisposedITAT Agra26 Sept 2018AY 2010-11
Bench: Him Though Specific Request Was Made To Admit The Same. Ground No. 2 (I) Because The Ld. Cit(A) Has Wrongly, Illegally & Arbitrarily Confirmed Theaddition Of Rs. 67,530/- Made By The Assessing Officer U/S 40A(3) Of The Income Tax Act. (Ii) Because The Ld. Cit(A) Has Legally Erred In Rejecting The Appellant'Sspecificsubmissionand The Unavoidable Circumstances Under Which The Payment Wasmade. Ground No. 3 (I) Because The Ld. Cit(A) Has Wrongly, Illegally & Arbitrarily Confirmed An Addition Of Rs. 1,11,038/- Made By The Assessing Officer By Disallowing The Claim Of Interest Paid Holding The Same To Be Not Allowable U/S 57(Iii) Of The Income Tax Act.”
Section 133Section 40A(3)Section 57Section 68
TDS of Rs. 1236/-. The interest was allowed by the learned J.C.I.T. as allowable expenditure while passing the assessment order.
The depositor is a salaried employee and amount advanced out of salary savings to earn interest for a period of six month. The amount has been received by the appellant through account payee cheque and refunded by account payee cheque
