Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 813 - AT - Income TaxMismatch of amounts credited in TDS certificates and amounts credited in the P&L account - Held that:- The subsequent years assessments have been framed u/s 143(3) of the Act for the assessment year 2009-10 and 2010-11, whereby no such additions have been made by the revenue in the assessment framed u/s 143(3) of the Act. As submitted before us that inclusion of advances from customers as income of the impugned assessment year will lead to double addition of the same income as the assessee company has duly offered for taxation the said income in the year in which services were rendered and same cannot be brought to tax as income in the year of receipt as the assessee company is following mercantile system of accounting. As submitted before us that this has led to double taxation of the same income which is not permissible as per Scheme of the Act In our considered view, the matter of reconciliation of income between the TDS certificates and books of accounts of the assessee company needs verification by the authorities below and in the best interest of justice, the orders of the learned CIT(A) is set aside and the matter is restored back to the file of the A.O. for de- novo determination of the issue on merits after considering the clarifications, evidences and replies submitted by the assessee company in its defense to substantiate its contentions , and decide the matter afresh in accordance with law. Needless to say that the AO shall provide proper and adequate opportunity of being heard to the assessee company in accordance with principles of natural justice in accordance with law before framing de-novo assessment on merits in set aside proceedings - Decided in favour of assessee for statistical purposes.
|