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2016 (2) TMI 120 - ITAT KOLKATAAccrual of income - Addition on account of Tax Deducted at Source (TDS) certificate - Held that:- AO at the time of assessment made reconciliation between income based on TDS certificates and the actual income offered to tax. The AO found the difference between the income as per TDS certificates and income shown by assessee. As per AO the assessee has declared less income and claimed the full credit of the TDS. Accordingly the AO has added the undisclosed income for the above stated amount. However, we find from the submission of Ld.AR that all the income having duly shown in the relevant year by assessee and tax thereon has been duly paid as per mercantile accounting system. The reason for the difference was mainly on account of interest income which the assessee has declared on the basis of mercantile accounting system and the payer deducted the TDS on the cash basis of accounting. The ld. AR has submitted sufficient number of documents in the form of the paper book and we found no ambiguity from the details submitted. In view of above, we reverse the orders of authorities below and delete the addition made by AO which confirmed by Ld. CIT(A). - Decided in favour of assessee.
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