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2013 (12) TMI 655 - AT - Income TaxCalculation of value of stock Addition on account of labour charges - Held that:- When both expense and income elements are included in the manufacturing account the balance in manufacturing account cannot be further reduced The valuation of closing stock comes to Rs.8,33,413 Decided against Revenue. Addition on account of Bogus & Inflated Transportation Charges Held that:- the assessee submitted a copy of ledger account of Shri A.N.Banerjee in the books of M/s. Mahesh Road Carriers showing the balance as on 30.11.2005 and as on 31.3.2006 in respect of transport charges received from the assessee A copy of the ledger account of M/s. Mahesh Road Carriers in the books of the assessee along with the copy of the bills were also filed before the CIT(A) which shows the transport charges to the extent of Rs.20,88,053 If Revenue is of the opinion that expenses are bogus then the onus is on Revnue to prove the fact Decided against Revenue. Addition on account of Bogus/Ingenuine Sundry Creditors Out of Rs.12,80,618/- only a sum of Rs.3,20,709/- was receivable by M/s. Mahesh Road Carriers from the assessee - Held that:- M/s Mahesh Road Carriers directly received sum of Rs. 9,52,553/- from the client of assessee in Nepal The assessee has not accounted such payment in his books Decided against Revenue.
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