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2016 (11) TMI 376 - AT - Income TaxReopening of assessment - mis-match of receipts between TDS certificate and profit and loss account - Held that:- We have observed that the assessee has duly filed the return of income u/s. 139 of the Act which was selected for scrutiny and assessment u/s 143(3) of the Act was duly completed on 24th December, 2007 accepting the returned income. The case was reopened u/s 147/148 of the Act on the ground that there was a mis-match in the gross receipts as declared in return of income filed with Revenue vis-à-vis gross receipts as reflected as per TDS certificates. The reasons recorded for reopening were duly supplied to the assessee. The assessee has given reply explaining that the freight paid to the attached vehicles was reduced from the freight received from the attached vehicles and the net amount was credited to the P&L account along with the freight received from own vehicles. Thus the reason for the mis-match has been duly explained by the assessee which was accepted by the Revenue and no addition has been made by the Revenue on this ground. The Revenue has made the addition on some other ground i.e. non deduction of TDS on payment of freight. In our considered view, the ratio of the decision of Hon’ble Bombay High Court in the case of Jet Airways (I) Ltd.(2010 (4) TMI 431 - HIGH COURT OF BOMBAY ) is directly applicable to the instant case and the addition made by the Revenue cannot be sustained.
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