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2018 (8) TMI 1629 - ITAT AGRAAddition made u/s 153C - Addition on account of unaccounted production of Gutka Pouches - Held that:- As correctly contended, that the additions in the present cases are not based on any incriminating material found during the search. Therefore, respectfully following ‘Kabul Chawla’(2015 (9) TMI 80 - DELHI HIGH COURT) the Cross-objections are accepted and the additions for all the four years are deleted. Addition on account of difference in stock value - Held that:- The request of the assessee is justified. The amount of ₹ 5, 27, 617/- was declared by the assessee in the return of income filed. This comprised of shortfall of ₹ 4, 83, 487/- in raw material, representing the difference in the stock as per the record of the assessee and the stock found during the search, and of ₹ 44, 130/- in the case of finished goods. The assessee is entitled to the benefit of the amount of ₹ 5, 27, 617/-, as declared in the return of income filed, to be allowed against the stock. For the purpose, the matter is remitted to the file of the AO, subject to verification and co-relation.
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