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2018 (7) TMI 287 - AT - Income TaxTreating the additional income declared during survey as deemed income u/s. 69 - unexplained investment - survey action u/s.133A - Held that:- AR has prayed before us that if an opportunity is afforded to the assessee, the assessee would substantiate that excess cash and stock found during survey was part of business income of the assessee. Taking into consideration entire facts of the case and in view of the prayer made by the A.R., without commenting on merits of addition, the issue is restored back to the file of Assessing Officer for re-adjudication after considering fresh evidence - decided in favour of assessee for statistical purpose. Set off of current year losses against declaration made u/s.133A - Held that:-Since, we have remitted the issue raised in ground No.1 of appeal for examination of the additional income declared during survey, we deem it appropriate to remit the ground No.2 as well. If the assessee is successful in establishing that excess cash and stock is part of regular business income, the Assessing Officer is directed to allow the benefit of set off of current year losses to the assessee Disallowance u/s.40(a)(ia) - payment of brokerage and labour contract charges without tds deduction - Held that:- Though the proviso was inserted by the Finance Act, 2012 w.e.f. 01.04.2013, the Hon'ble Delhi High Court in the case of CIT Vs. Ansal Land Mark Township (P) Ltd (2015 (9) TMI 79 - DELHI HIGH COURT) has held the proviso to be declaratory and curative in nature. The proviso is held to be applicable retrospectively w.e.f. 1st April, 2005. In the facts of the present case, we deem it appropriate to remit this issue back to the file of Assessing Officer to consider documentary evidences furnished by assessee indicating that the recipients of the brokerage/ labour contract charges have offered the amount received from assessee to tax and has paid tax thereon. AO after examining relevant documents shall decide this issue, in accordance with law - decided in favour of assessee for statistical purpose.
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