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TMI Blog2015 (2) TMI 490X X X X Extracts X X X X X X X X Extracts X X X X ..... at ₹ 36,01,644/-, totaling receipts to ₹ 2,93,77,071/-, which has been reflected by the assessee in his books of account in the profit & loss account. The amount of ₹ 29,76,588/- has been reflected as purchases against tax collection certificate in Form-27D has also been explained by the assessee before the ld. CIT(A). All these materials in the form of TDS certificate as well as Form 27D and profit & loss account were available on record before the A.O. Therefore, it is not correct to say that such material was not available before the A.O. but the AO chose to collect the figures only from Form 27D, which is not correct. On perusal of the profit & loss account on record at PB 59, the gross receipts from construction busi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it rate on the said amount by the AO will tantamount to a double taxation. The assessee having declared receipts in the profit & loss account cannot again be a subject matter of taxation, which the AO has done and the ld. CIT(A) has rightly deleted the said addition. - Decided against revenue. - I.T.A. No. 70(Asr)/2013 - - - Dated:- 25-8-2014 - Sh. A. D. Jain And Sh. B. P. Jain,JJ. For the Appellant : Sh. Saad Kidwai, DR For the Respondent : Sh. P. N. Arora, Advocate ORDER Per B. P. Jain, AM ; This appeal of the Revenue arises from the order of the CIT(A), Jammu dated 22.11.2012 for the assessment year 2008-09.The Revenue has raised following grounds of appeal: 1. On the facts and circumstances whether the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Prabhat Kumar vs. CIT and addition of ₹ 5,33,542/- was made to the income of the assessee. 2.1. The AO further on the perusal of the TDS certificates available on record of different parties as per details below worked out the total receipts at ₹ 2,87,40,171/- and applied the net profit rate of 12% at ₹ 34,48,820/- and added the same to the income of the assessee. 3. Before the Ld. CIT(A), the assessee made the submissions with regard to the addition of ₹ 5,33,542/- that on calling the information from M/s. Ericsson Gurgaon, no query was raised from the assessee. It was submitted before the ld. CIT(A) that the said receipts, in fact, have wrongly been mentioned and the receipts side has already been accounted f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely) and added to the turnover. This is in reality the purchase of the assessee on account of liquor business. If this amount is reduced, then the gross receipt from construction comes to ₹ 2,57,75,427/- approx. This gross receipt was shown in the profit loss account filed along with the return. I find force in the submission of the assessee that profit estimation by the AO on this declared amount would amount to double taxation. I, therefore, hold that addition of ₹ 34,48,820/- is uncalled for an hence deleted. 4.6. With regard to addition of ₹ 5,33,542/-, it is found that the A.O. had called for an information u/s 133(6) from M/s. Ericson India Pvt. Ltd; Gurgaon. The proprietorship concern of the appellant M/s. Rasi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... available on record and the assessment has been made without making any inquiry. 6. The Ld. counsel for the assessee, Mr. P.N.Arora, Advocate on the other hand argued that even being the paperless return, all the figures of balance sheet and profit loss account were filled in the return of income, though the profit loss and balance sheet were on record and it is no-where mentioned by the AO that the return does not carry balance sheet and P L account, which in fact, was on record. However, assessee had made the submissions and had reconciled the various accounts and the AO without considering the expenses incurred by the assessee had taken into account the receipt side and had applied a net profit rate. This amounts to double taxa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een declared at ₹ 2,57,75,427/- and liquor business at PB 42 has been declared at ₹ 36,01,644/-. The purchases against liquor business are ₹ 29,76,558/- at PB-2 which is a matter of record. If the gross receipts from liquor business are reduced from the total gross receipts then the receipt from construction business comes at ₹ 2,57,75,427/- and the assessee has already declared the net profit from the liquor business at ₹ 93,788/- and from construction business at ₹ 5,87,632/- at PB 42 59. Therefore, the addition by the AO will tantamount to double taxation, which in fact is not called for. Therefore, in the facts and circumstances, the ld. CIT(A) has rightly deleted the addition made by the AO. 8. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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