Road Tax : 659014
4. Bank Interest on vehicle loan Rs. 1,94,964/-
Total ... Bank Interest on vehicle loan Rs. 11,04,854/-
Total Rs.1,72,18,072/-
During the course of hearing
short, the Act) in
respect of interest received by the assessee on loans and advances to
the employees. During the course of assessment proceedings ... Interest from Home Loan Rs. 62,053/-
(iii) Interest from Vehicle Loan Rs. 8,518/-
(iv) Interest Grant Rs. 11,858/-
Total
depreciation of the Jaguar Vehicle. In this regard, the
vehicle was purchased on 15.03.2015 and the amount of interest on
Loan is not charged from ... uses, but fail to disallowed
the amount on Interest on auto loan and vehicle maintenance.
Therefore, the same amount was required to be added
Loan repayment as per bank statement with
ICICI Bank Ltd. Jaipur and admitted in
statements taken on 16/11/2011.
Surender -Shah ... repayment for vehicle loan
to HDFC during this A.Y. Rs.30,825/-
House hold withdrawals as per B/s Rs.82,140/-
LIC payment
respectively as well as depreciation of Rs. 3,11,182/- and vehicle loan
interest of Rs. 32,413/-. The AO observed that the element ... transportation expenses, 20% of conveyance petrol, telephone, Mobile
depreciation and vehicle loan expenses due to the personal
Dashrath Kumar Sharma, Jpr ,Jaipur vs Ito Wd 7(4), Jpr, Jaipur on 17 March
vehicles:
Assessee has claimed interest expenses and depreciation on multiple
vehicles. When the assessee was asked for the registration papers of
vehicles, papers for only ... claimed on vehicles:
Assessee has claimed interest expenses and depreciation on multiple vehicles.
When assessee was asked for the registration papers of vehicles, papers
order wherein assessee has
categorically mentioned about the loans taken on such
vehicles. Hence the expenses so claimed deserves to be
allowed and income ... order wherein assessee has categorically mentioned about the loans
taken on such vehicles. Hence the expenses so claimed deserves to be
allowed and income
Maintenance 77,794.00
5. Insurance Exp. 47,623.00
6. Interest on Vehicle Loan 55,802.00
7. Depreciation 2,41,402.00
Total
business activities which prima facie comprise
small loans, vehicle loans, small and medium enterprise loans in rural
and semi-urban areas and such investment
