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2017 (6) TMI 1075 - ITAT KOLKATAAddition on undisclosed receivable amount on account of transportation charges - Held that:- The transportation charges received during the period 31st March, 2010 and incurred during that period and has been debited to the profit and loss account at ₹ 3,76,174/- would not form part of receivable transportation charges. Besides, the transport rebate for A.Y 2008-09 shown by the assessee in profit and loss account would not be added because assesse has already shown as receipt in the profit and loss account. In addition to this, the AO forgot to add transport rebate reimbursable at ₹ 1,09,148.40. Therefore, reconciliation made by the AO to work out the transportation charges receivable is entirely wrong and does not base on accounting principles. Therefore, addition made by the AO and confirmed by the ld. CIT(A) needs to be deleted. Appeal filed by the assessee is allowed.
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