Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 132 - AT - Income TaxAddition on account of unexplained advances received from customers – Assessing Officer has made addition of Rs. 28 lakhs in respect of advances of Rs. 25 lakhs shown to be received from M/s. Jot Agro Processors P. Ltd. and Rs. 3 lakhs from M/s Madura Agro Food Inds - As far as the advance received from M/s. Jot Agro P. Ltd. is concerned – The appellant has filed evidence being copies of various documents including confirmed copy of account of the appellant in the books of that company and wherein permanent account number of the company has been duly indicated - The amount of Rs. 3 lakhs claimed to be received from M/s. Madura Agro Food Inds. - The entry have been cross checked with the entries in the books of that company – The addition made by the Assessing Officer is based upon non-application of mind to the facts of the case and non-appreciation of the provisions of section 68 – Decided against Revenue.
|