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2018 (8) TMI 277 - AT - Income TaxAddition observing undisclosed receipt - system of accounting followed - Held that:- As assessee has submitted that the assessee is following cash system of accounting and since the said amount after deducting TDS was actually received by the assessee only in the previous year relevant to AY 2014-15, the same has been duly offered to tax in AY 2014-15. He has contended that this claim of the assessee can be verified by the AO before allowing the relief to the assessee. Since Ld. DR has not raised any objection in this regard, direct the AO to verify the claim of the assessee and allow proper relief on such verification. Amount earned as interest on PPF - whether it being exempt from tax ought to have been allowed as exempt income - Held that:- As assessee has contended that this claim of the assessee also can be verified by the AO before allowing the relief to the assessee. DR has not raised any objection in this regard. Accordingly, this issue is also restored to the file of the AO for deciding the same afresh after verifying the claim of the assessee that the amount in question represented interest on PPF account received for the earlier years. Addition of sum credited in the Capital account - Held that:- Respectfully following the order of the Tribunal on the similar issue in assessee’s own case for AY 2010-11, set aside the impugned order of Ld.CIT(A) for the year under consideration on this issue and restore the matter to the file of the AO for deciding the same afresh as per the similar directions as given for AY 2010- 11.
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