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2010 (10) TMI 782 - HC - Income TaxUnaccounted sales - Assessing Officer has made addition by applying rate of 14.25 per cent. to the estimated unaccounted sales, appellant carried out unaccounted sales of knitted fabric is confirmed by the Central Excise Department - appellant carrying out such sales outside the books of account is undisputed facts not controverted even during the appeal proceedings – Held that:- As the profit on the sales of Rs. 45,19,63,026 and which came to Rs. 1,92,98,200 has already been considered as income of the appellant, the sales whatsoever, which have not been accounted for in the sales considered in the audited accounts filed with the return of income are taken to be covered in the sales reflected in the balance-sheet with the Registrar of Companies. Once the income of the appellant had been held to be assessable at Rs. 1,92,822,200 as against that of Rs. 9,984 shown in the return of income, the addition of Rs. 53,58,618 with all fairness should be taken to have been covered in the above addition. As such, there is no need to make separate addition of Rs. 52,58,618 and this addition accordingly deleted, appellant is unable to dispute the correctness of concurrent finding recorded by the Commissioner of Income-tax (Appeals) and the Tribunal that the alleged unaccounted sales which were made the basis for addition to the income of the assessee, were already covered by income declared by the assessee, no substantial question of law arises, appeal is dismissed.
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