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2016 (12) TMI 1730 - ITAT DELHIInitiation of penalty proceedings u/s 269SS read with section 271D - Held that:- Both these grounds are premature as mere initiation of penalty proceedings the assessee is not aggrieved, he will have the full opportunity to explain his case therefore ground Nos. 1 and 2 are dismissed. Addition on unconfirmed balance of sundry creditors - AR submitted that amount of creditors of ₹ 2914046/- have also been paid or write off by the appellant during FY 2009-10 and 2011-12 and has been offered to the income for taxation in those respective years. As submitted this details with the with the prayer for admission of additional evidence on such write back. He pleaded that for this issue the matter may be verified by the AO and after the same is offered for taxation for subsequent years as stated by him if found to be correct then addition in the current year may be deleted - Order pronounced in the open court on 16/12/2016.
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