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2019 (10) TMI 1427 - AT - Income TaxDifference in the accounts of the creditors - Difference between the balance shown by the assessee and the confirmation received in the case of six parties the details - HELD THAT:- In our opinion the assessee in the instant case has fully discharged the onus cast on him by giving sufficient reasons before the AO and CIT(A) regarding the discrepancies in the accounts. Further it is a case where the liability payable is less than the balance shown by the creditors in 5 out of the 6 cases. AO has not disputed the purchases from the said parties and has accepted the trading results. Considering the totality of the facts of the present case and considering the submission made by the Ld. Counsel for the assessee before the AO and the CIT(A), we are of the considered opinion that the CIT(A) was not justified in sustaining the addition on account of difference in the accounts of the creditors. We, therefore, set aside the order of the CIT(A) and direct the AO to delete the addition. Appeal filed by the assessee is allowed.
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