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2017 (7) TMI 915 - ITAT DELHIAddition in respect of cash credits - addition on a/c of commission received - Held that:- We agree with contention of Ld. AR that by making addition in respect of cash credits, after rejecting books of accounts, would amount to double taxation of certain items. However, assessing officer has rejected books of account based on irregularities and infirmities recorded by internal auditors in audit report. Further it is observed from order of Ld. CIT(A) that even Ld. CIT(A) has not himself verified any of credit entries under head sundry creditors amounting to ₹ 68,01,864/-, alleged commission income earned and discount received amounting to ₹ 83,85,200/- and expenses under head other expenses amounting to ₹ 86,84,062/-. We are, therefore, inclined to set aside this issue is back to file of Ld. AO for a suo motu verification of these entries in books of accounts. Ld. AO shall take into consideration all documents that may be filed by assessee to establish its claim and may verify to his satisfaction as per law regarding the identity, creditworthiness, and genuineness of the transaction in respect of credit entries. Assessee is directed to furnish all the necessary details like bills/vouchers/discount coupons etc., before Ld. AO for purposes of adjudication of these grounds.
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