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2015 (3) TMI 679 - ITAT HYDERABADReopening of assessment - suppression of sales - CIT(A) upheld the rejection of books of account and estimation of sales made by AO but redusing the quantum of addition to ₹ 3 lakhs as against ₹ 18,30,818 done by AO - Held that:- Only because assessee could not produce stock register, for whatever may be the reason, sales suppression cannot be inferred by adopting the value of stock at ₹ 55 per sft. when absolutely no defect or deficiency was found in the books of acocunt. Moreover, on perusal of the observations made by ld. CIT(A), it is evident that ld. CIT(A) on the basis of facts and materials on record was convinced that there is no basis for AO to presume sales suppression. That being the case, it would have been fair and reasonable on the part of ld. CIT(A) to delete the addition made by AO entirely instead of sustaining the amount of ₹ 3 lakhs. There being no evidence on record brought by AO to even remotely established the fact that assessee has indulged in sales suppression, even part of the addition made by AO cannot be sustained. Thus we delete the addition of ₹ 3 lakhs sustained by ld. CIT(A). - Decided in favour of assessee.
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