Super Nova Plywoods vs. Income Tax Officer

Parties Involved

Facts Summary

The appeal filed by the Revenue is directed against the order of the National Faceless Appeal Centre, Delhi for Assessment Year 2011-12. The assessee, Super Nova Plywoods, challenged the addition made by the Assessing Officer (AO) of Rs. 2,00,425/- representing the capital contribution by the partners. The AO added this amount to the total income of the assessee, which was confirmed by the learned CIT(A). The assessee also challenged the addition of Rs.1,68,003/- being 20% of Rs. 8,40,015/- representing direct expenses on an ad-hoc basis. The AO disallowed these expenses as they were based on self-made vouchers. The learned CIT(A) confirmed the order of the AO.…

Legal Issues

• 1. The addition made by the AO of Rs. 2,00,425/- representing the capital contribution by the partners.
• 2. The addition of Rs.1,68,003/- being 20% of Rs. 8,40,015/- representing direct expenses on an ad-hoc basis.

Judgment Outcome

Decided in favour of Assessee.

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