Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (6) TMI 401 - AT - Income TaxAddition on account of unaccounted sale Held that:- sales tax and entry tax liability pertain to other years. Cess, duties and taxes cannot be reduced from the turnover pertaining to other years. The law provides for claiming of deduction u/s.43B as and when paid therefore cannot be subjected to reconciliation to determine the net sales as declared in the P and L account and the gross sales as per the books of account. - addition deleted. Disallowance u/s. 40(a) (ia) of the Income Tax Act Held that:- assessee was entitled to make the payment of TDS till the due date of filing of the return when the due date of payment of TDS was the first week of the immediately proceeding month for the Assessment Year 2005-06. The books of account are audited and the financial statement and tax deducted at source payable were certified by the auditors having been paid prior to the due date of filing of the return. - CIT(A) therefore, misdirected himself to confuse between "previous year" and the "assessment year" under the mercantile system of accounting which we are inclined to vacate. The assessee had complied with the provisions of Section 40(a)(ia) was therefore entitled to claim deduction of these expenses which are directed to be allowed. Belated serving of order after a gap of two years Held that:- assessee did not seek to find the delay in serving the order when the demand had already been informed to it. No purpose would be served for the Assessing Officer to create a demand and not inform the assessee when the learned CIT(A) on the basis of the demand notice agreed to hear the appeal u/s.246 of the I.T.Act. assessee had already filed returns for the Assessment Year 2006-07 and 2007-08 during the intervening period as were intimated to him therefore cannot held a grievance against the Assessing Officer for belatedly serving the same.
|