Case Law Details
DCIT Vs Allied Infra suppliers (ITAT Cuttack)
FACTS –
Rejected claim of sundry creditor of INR 4,42,82,877 since the assessee failed to provide details and documents to prove the genuineness of the same. Addition was made u/s 68
Disallowance u/s 40(a)(ia) – Assessee paid INR 1070713 to M/s. Monalisa without deducting TDS and hence AO disallowed INR 1070713 u/s. 40(a)(ia). Assessee submitted that TDS is deducted and deposited the amount to Government on 29.09.2012 i.e. before the due date of furnishing return of income u/s 139(1).
Disallowance as per provisions of section 40A(3) – Expenditure of INR 61,55,000 was incurred by partners on behalf of the firms and accordingly the assessee firm debited the expenditure and credited the partner’s capital account.
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