Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 291 - AT - Income TaxAddition made towards unaccounted receipt - assessee claimed TDS - CIT(A) deleted the addition - Held that:- The payment for the same had been received by the assessee after TDS in April 2006. We find that the assessee has duly accounted for this receipt in its profit and loss account in consonance with the mercantile system of accounting regularly employed by it. We also hold that the assessee had not claimed the TDS on the subject mentioned receipt in Asst Year 2006-07 as stated by the Learned AO and instead claimed the same with offer of corresponding income in Asst Year 2007-08. Hence we find no infirmity in the order of the Learned CITA in this regard. - Decided against revenue. Addition made towards bogus purchase of sulphur and cement - CIT(A) deleted the addition - Held that:- Assessee filled complete details of purchases made by the assessee from different parties together with the details of sales made out of such purchases. The said paper book also contained the details of payments made to those suppliers for purchases made by the assessee by account payee cheques. We have perused the entire paper book filed by the assessee in this regard. We also observe that the Learned CIT(A) had called for a remand report from the Learned AO with regard to the production of these documents and the Learned AO did not offer any comments on the same. We also find that the suppliers have been produced before the Learned AO under summons proceedings u/s 131 of the Act. Just because the suppliers had not brought their books of accounts during the course of summons proceeding, we hold that the assessee could not be faulted with. Hence we find no infirmity in the order of the Learned CIT(A) - Decided against revenue.
|