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2020 (9) TMI 536 - AT - Income TaxUndisclosed income u/s. 44AD - difference between the turnover declared by the assessee and the turnover declared in form 26AS - HELD THAT:- Admittedly, there is difference in the turnover declared by the assessee and the turnover declared in Form 26AS which is at ₹ 5,05,000/- and it is to be part of the business turnover of the assessee. Being so, it should be included in the total turnover of the assessee and income of 8% is to be estimated on it. Entire undisclosed turnover of ₹ 5,05,050/- cannot be considered as income of the assessee. The AO is directed to consider 8% of the income of ₹ 5,05,050/-. Thus, this ground of appeal of the assessee is partly allowed. Unexplained income - HELD THAT:- Once the assessment of the assessee was completed u/s. 44AD, there cannot be any application of sec. 68/69A. Being so, direct the AO to delete the addition made by the AO and confirmed by the CIT(A) at ₹ 3 lakhs. This ground of appeal of the assessee is partly allowed.
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