assessee. In response, assessee has furnished the business activities, business
organization structure and audited books of account and with a justification
of cash deposit during
annexure D of the tax audit report, assessee himself has classified it is
temporary wooden structure. Definitely, it is apparent that it is not building
copies of the Balance sheet, Profit and Loss account, Audit Report and Tax Audit report filed with the ROI for the captioned AY (refer Annexure ... purposes of this discussion Annexure 1 and 2 which were audit report and computation of income already filed by the taxpayer and proceed to consider
under the head Air Conditioner, Building Structure,
Electrical Equipment's and Furniture & Fittings in the audited balance
sheet
infra-structure
funds. It is just a name given to the earmarked bank account. There are no
separate account or audit. The Empowered Committee ... audited in the course of audit of its own account. This
also indicates that there is nothing called 'infra-structure funds
overheads incurred for the purpose of maintaining the corporate
structure of the company such as audit fees, legal and professional
fees and listing charges ... loss account only shows minimal administrative
expenses to maintain the corporate structure of the company.
There is no indication of any new business activity commenced
Loss account, the major expenses
are legal expenses of Rs.85,000/-; audit fee of Rs.97550/-; and
office maintenance of Rs.45,875/-, besides ... required to carry out statutory audit of its books of account and
other activities for which it had paid audit fees and has also
incurred
claimed
depreciation on temporary structures @ 100% on furniture and fixtures in
rented premises and claimed as temporary structure. Before AO, it was
submitted that assessee ... annexure D of the tax audit report, assessee himself
has classified it is temporary wooden structure. Definitel y, it is apparent
that
description of the ownership structure of (a) In the audit report
the assessee enterprise with details of
shares or other ownership interest held on form
description of the ownership structure of the (a) In the audit report
assessee enterprise with details of shares or
other ownership interest held therein
