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2020 (2) TMI 1636 - AT - Income TaxAddition on difference in the receipts shown in the audit report and form No. 26AS - assessee has not maintained consistent policy of accounting - CIT(A) has accepted the contentions of the assessee that difference in the receipts shown in the audit report and form No. 26AS were duly reflected in the previous and subsequent assessment years and thus offered to tax - HELD THAT:- As in this case there were apparently some differences in the total receipt as per form 26AS and receipts as per P&L Account. The assessee filed reconciliation before the AO submitting that all these receipts were duly accounted for from 2010-11 onwards to 2014-15 and all the ledger accounts were also filed of M/s. Bartec India Pvt. Ltd., Engineer India Ltd., Mangalore Refinery Petro Chemical Ltd. and M/s. Dcore Exports Ltd. in support of the reconciliation. We note that the only basis on which the AO rejected the reconciliation of the assessee is that the assessee has not properly explained the items of difference and the AO has merely based his conclusion on the basis of audit reports. CIT(A) has recorded a finding that note in the audit report was general in nature and does not bear any relevance to the facts and circumstances of the case. CIT(A) noted that the receipts were offered to tax either in the preceding or subsequent years whereas TDS was claimed in the year of deduction. CIT(A) has noted that in the ledger accounts of all the parties, all receipts were properly shown and offered to tax and accordingly held that the receipt which is offered to tax in the preceding and subsequent years could not be brought to tax in the current year as it would amount to double taxation - we are of the view that the assessee has duly explained these differences and there is in fact no difference in accounting for the receipts by the assessee. Thus, we do not find any fault or infirmity in the order of Ld. CIT(A) and accordingly, the order is upheld by dismissing the appeal of the Revenue.
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