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2010 (1) TMI 948 - HC - Income TaxAddition on the basis loose paper found during the course of survey - sale of bardana - held that:- The Tribunal has found that this sale of bardana was entered in the books of account on December 27, 2001, and, thereafter, the profit and loss accounts were drawn up and the computation of income was based on the profit as per the profit and loss accounts, therefore, the computation of income included the alleged unaccounted sale of bardana also. The Assessing Officer ignoring the aforesaid aspects of the matter had made an addition in respect of the alleged sale of bardana. - Deletion of addition by the tribunal confirmed. Addition on account of cash found during the course of survey - held that:- the amount of Rs. 10 lakhs cash found during the course of survey was duly entered in the books of account and the same did not remain unrecorded and it was not unaccounted. The Tribunal noted that the addition of the same amount again during the assessment proceedings amounted to double addition, since it was already shown in the books of account. - Decided in favor of assessee.
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