Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1684 - AT - Income TaxAddition towards unpaid service tax u/s 43B - HELD THAT:- As assessee has not claimed the amount as expenditure during the year. When no expenditure has been claimed, the question of disallowance u/s 43B of the Act, does not arise as held in the case of A.W. Figgis And Co. Ltd. [2002 (4) TMI 40 - CALCUTTA HIGH COURT] Thus, this addition is deleted. Addition on account of unexplained sundry creditors u/s 68 - HELD THAT:- For first amount in dispute is liability payable to Shri Ananta Das, which is a carry forward balance from the earlier year. As the credit did not arise during the year, no addition u/s 68 of the Act, can be made in this year. Hence the same is deleted. The other addition is of an amount being purchases on credit from M/s Calcutta Anodizing Works. Section 68 of the Act cannot be attracted when the fact of purchase is not in dispute and when the trading results have been accepted by the Assessing Officer. In the result, this addition is also deleted - Appeal of assessee allowed.
|