Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 1318 - AT - Income TaxAddition in respect of sundry creditors/trade creditors - Held that:- The parties have running accounts with the assessee and if similar addition is made, it would give entire trading results of the assessee, to be abnormal. Therefore, the ld. CIT(Appeals) should have followed the order for assessment year 2003-04 for the purpose of deleting the addition against the assessee. However, ld. CIT(Appeals) noted that addition is limited to fresh additions only. This reason is also incorrect because ld. counsel for the assessee demonstrated that even if there are some fresh creditors from the same parties appearing in the books of account of the assessee but these are running accounts from the earlier years, therefore, for difference of the amount itself, no such addition should be made against the assessee. Since, no details have been given in the assessment order and the chart now filed have not been considered by the authorities below and also according to the assessee, when no proper opportunity have been given by the Assessing Officer, it would be reasonable and appropriate to restore this issue to the file of Assessing Officer with direction to re-decide this issue by giving reasonable sufficient opportunity of being heard to the assessee. We, accordingly, set aside the orders of the authorities below and restore this issue to the file of Assessing Officer with direction to re-decide Addition u/s 40(a)(ia) - payments on account of brand charges - non deduction of tds - Held that:- As brand charges were paid to sister concern M/s Meera Moti Spices Pvt. Ltd. who have declared the amount in question in their return of income and paid the taxes. Therefore, when by filing Income Tax Returns and offering sum received for taxation, disallowance would not be justified and matter may be remanded to the Assessing Officer for re-examination in view of decision of Delhi High Court in the case of CIT Vs Ansal Land Mark Township P. Ltd. [2015 (9) TMI 79 - DELHI HIGH COURT]
|