Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (5) TMI 355 - AT - Income TaxUnexplained investment/ credit - set off of addition - rectification of order u/s 154 - held that:- CIT(A) in the first round of appeal, had clearly given a direction to adjust against the addition of Rs.30,45,000/-, peak cash credit which was also available outside the books of account and assessed to tax once it was recorded in the books of account. The directions of the CIT(A) are clear. He has directed that the peak credit taxed in the earlier years should be reduced from the addition of unexplained advances of Rs. 30,45,000/-. There is no ambiguity in it. While giving effect to the order of the CIT(A), the AO has to merely follow the directions. It is not for the AO to sit on judgment over the correctness of the directions either in adding the advances or in directing the deduction of the peak credit added in the earlier years. Much less in an order of rectification of the order giving effect to the order of the CIT(A). We agree with the conclusion of the CIT(A) and dismiss the Revenue’s appeal. - Decided against the revenue.
|