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2014 (5) TMI 428 - AT - Income TaxDeletion in the value of closing stock – Stock register not maintained - Disallowance of purchase – Benefit of telescoping – Held that:- The assessee has offered additional income of Rs.25 lacs towards stock difference and other omissions noted during the survey - the CIT(A)’s order show that on every count the CIT(A) has given a categorical findings of fact for sustaining the additions of Rs.23,26,514 - The assessee is not in appeal against this finding of the CIT(A) – there was no error or infirmity in the findings of the CIT(A) for allowing the benefit of telescoping of additional income offered amounting to Rs.25 lacs to be set off against the total addition sustained by the CIT(A) at Rs.23,26,514 - It would be just and reasonable to allow such telescoping in order to ensure that the same income is not taxed twice – Decided against Revenue.
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