SH. SURENDRA KUMAR WADHWA,NEW DELHI vs. ITO, NEW DELHI
In the result, appeal of the assessee is partly allowed for statistical purpose
ITA 1792/DEL/2014[2009-10]Status: DisposedITAT Delhi08 Jun 2016AY 2009-10
Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2009-10 Mr. Surendra Kumar Wadhwa, C/O- Vs. Income Tax Officer, Ward -20(2), Mr. Ajay Kumar Sharma, 14, School New Delhi Lane, Barakhamba Road, New Delhi Gir/Pan : Aabpw0250F (Appellant) (Respondent) Appellant By Sh. Ajay Kumar Sharma, Adv. Respondent By Smt. Rishpal Bedi, Jcit (Dr) Date Of Hearing 18.04.2016 Date Of Pronouncement 08.06.2016 Order Per O.P. Kant, A.M.: This Appeal Of The Assessee Is Directed Order Dated 27/01/2014 Of The Learned Commissioner Of Income-Tax (Appeals)-V, New Delhi For Assessment Year 2000-10, Raising Following Grounds: 1. That, The Assessment Order & The Appellate Order Are Based On Conjucture & Surmises & Against The Facts Of The Case & The Law Laid Down In This Respect. 2. That, The Assessing Officer & The Hon’Ble Cit (A) Has Errored In Taxing The Commission Payable Of Rs. 4,08,080 In This Year, While This Amount Belongs To The Subsequent Year When The Bills Were Raised & The Amount Was Received. The Appellant Has Never Offered To Tax In This Year Rs. 4,08,080. The Submission Of The Assessing Officer In This Respect Is His Words & Not The Words Of The Appellant. The Affidavit Can Be Submitted For The Confirmation Of This Submission. 3. That, The Hon’Ble Cit (A) Has Errored In Considering The Loan Processing Fees As A Capital Expenditure Instead Of Revenue Expenditure. The Loan Processing Fees Payable To Bank Is A Bank Charges For Rendering Services For Granting The Loan For Car For Business Purpose. This Amount Cannot Be Considered As Capital Expenditure. This Is Revenue Expenditure. 4. That, The Hon’Ble Cit (A) Has Errored In Saying That The Amount Of Rs. 3,90,579 May Be Reduced From The Income For The A.Y. 2010- 11 If Such Amount Has Indeed Been Taxed Twice.
Section 143(2)
194G, section 194H, section 194-I, section 194J, section 194K, section 195, section 196A, section 196B, section 196C and section 196D to be treated as an income received. The purpose of section 198 is not to carve out an exception to section 145 of the Act. Section 199 of the Act has two objectives - one to declare the tax deducted
