Case Law Details
Globus Realcom Pvt Ltd Vs DCIT (ITAT Delhi)
Assessing Officer was of the view that the assessee could not prove the genuineness of the parties and disallowed relevant expenses.
Appellant submitted that Confirmation of accounts from M/s Mathur Associates and The Transaction Point clearly show that in addition to commission, there is an element of Service Tax mentioned in the account and the allegation of the Assessing Officer that the amount confirmed by the parties differ from the amount claimed by the assessee does not hold any water in as much as the difference is because of the Service Tax.
Once TDS element is reflected in Form No. 26AS, the Assessing Officer cannot allege that the parties are not genuine. Moreover, full details are available on record. Therefore, we do not find any reason in sustaining the disallowance. Findings of the ld. CIT(A) are set aside and the Assessing Officer is directed to delete the impugned disallowance.
FULL TEXT OF THE ORDER OF ITAT DELHI
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