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2014 (9) TMI 1178 - ITAT MUMBAIRejection of books of accounts - HELD THAT:- CIT(A) himself had admitted the books of account as an additional evidence and the Department is not in appeal against those orders. Once the admission of the books of account has been accepted, then the CIT(A) ought to have gone with the books of account and if the books of account were not found proper or as per the accounting policies, the same should have been rejected but that being not the case, no reason for not admitting the books of account - the books of account ought to have been examined by the authorities below. We therefore restore this issue to the file of the A.O. to examine the correctness of the books of account with supporting evidences. Enhancement of income in principle - mismatch in the balances in the ledger account of the appellant and Late Shri Harshad S. Mehta - difference on account of opening balance - HELD THAT:- The difference calculated by the A.O. is at ₹ 33,90,593/- leaving a megre sum of ₹ 20/-. Further, we find that Late Shri Harshad S. Mehta has to receive more amount from the assessee therefore the difference cannot be treated as income of the assessee. It is not a case where the assessee is showing more amounts to be received from Late Shri Harshad S. Mehta. Further, it is an undisputed fact that the difference is only in respect of opening balances and with a difference of ₹ 31072/- pertaining to the year under consideration. We, therefore, restore this issue to the file of the A.O. for the limited purpose of verification of reconciliation of the difference between the opening balances and the closing balances relating to brokerage and lease rent. The assessee is directed to file necessary details. Levy of interest u/s 234A and 234B is mandatory, however, the same is consequential in nature and hence the necessity of adjudicating this ground does not arise. Correct amount of long term capital gain - HELD THAT:- After admitting this additional ground, in our considered opinion, it requires verification of facts. We, therefore, restore the issue to the file of A.O. The A.O. is directed to verify the correct amount of long term capital gain as per the details brought to his notice. The assessee is directed to furnish necessary details. The additional ground is accordingly allowed for statistical purpose. Addition on account of profit on sale of shares - HELD THAT:- As gone through the order of the first appellate authority in the case of Shri Hitesh Mehta dtd, 29-3-2012. We find that the entire addition has been made by the A.O. on the basis of information gathered from different sources. We find that the A.O. has merely picked up figure from the Annexure and arrived at the figure of addition without making enquiry or bringing any evidence on record. We find that on identical facts in the case of Shri Hitesh Mehta, the additions were deleted. The said order was challenged before the Tribunal but this issue was not raised before the Tribunal
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