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2018 (5) TMI 50 - AT - Income TaxAddition u/s. 14 r.w.r 8D - Held that:- As relying on case REI Agro [2013 (12) TMI 1517 - CALCUTTA HIGH COURT] we direct the AO to recompute the disallowance afresh taking into consideration the investments, which yielded the dividend income for the purpose of section 14A of the Act. Thus, ground no. 1 raised by the assessee is allowed for statistical purpose. Addition of shuttering expenses - Held that:- CIT-A was not correct in confirming the impugned additions made on account of steel shuttering materials 1/3 written off and wood shuttering materials 1/3 written off. The same is directed to be deleted. Addition on account of difference between income as per ITR and as per books of account of assessee - Held hat:- We find from the order of CIT-A that the assessee pleaded that this very sum of ₹ 6,09,193/- has been offered to tax in the next assessment year by him. AR fairly pleaded let this sum be taxed in the A.Y under appeal and consequently, a direction be given to AO to reduce a sum of ₹ 6,09,193/- from the income of next assessment year i.e. A.Y 2011-12 in order to avoid double taxation. We find force in this argument of AR. Ground no. 3 is dismissed subject to direction to AO that a sum of ₹ 6,09,193/- shall be reduced from the income of assessee in next assessment year i.e. A.Y 2011-12.
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