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2016 (8) TMI 1192 - ITAT AHMEDABADAddition u/s.68 - AO had considered the book results submitted along with return of income filed by the assessee - Held that:- We find that ld.CIT(A) while deciding the issue in favour of assessee has given a finding that AO had relied on the incomplete set of accounts by ignoring the audited accounts. He has also noted that assessee had electronically filed its return of income on 31/10/2007 and thereafter order u/s.154 of the Act was passed on 25/06/2009 and survey was conducted on 19/03/2008 and thereafter the case was reopened u/s.147 of the Act which means that assessee had got its accounts audited much before the survey was conducted and while passing the rectification order u/s.154 of the Act AO had considered the book results submitted along with return of income filed by the assessee; meaning thereby that AO had accepted the book results for the same period. He has noted that on one hand AO had considered the negative cash balance from the uncompleted books, whereas on the other hand he had picked up the cash payment upto 20/02/2007 from the audited books of account submitted by the assessee during the assessment proceedings, which he had himself rejected as being incomplete. He has further given a finding that the additions made by the AO was without any basis. Before us, Revenue has not placed any material on record to controvert the findings of the ld.CIT(A). - Decided against revenue
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