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2014 (3) TMI 1185 - ITAT HYDERABADSuppressed turnover - turnover difference - treating the excess receipts credited in form 26AS as undisclosed incomedifference between the turnover shown in the books of accounts and turnover reflected in Form No.26AS generated from AST system of ITD application - plea of the assessee is that only net profit is to be considered at 8%.- HELD THAT:- Assessee failed to establish that the corresponding expenditure relating to this turnover has not at all been booked in its books of accounts. The assessee’s plea can be accepted only if the corresponding expenditure relating to this turnover is not at all booked by the assessee in its books of account. Since the assessee failed to substantiate that the expenditure relating to this turnover has not at all been claimed in its regular books of accounts, we are not inclined to allow the same. Corresponding expenditure relating to this suppressed turnover has already been booked by the assessee, the entire undisclosed turnover is to be considered as income of the assessee. Decided against assessee.
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