Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (1) TMI 587 - AT - Income TaxDisallowances on related to commission of income not reflected in assessees P&L account - disallowance 10% of the expenses - HELD THAT:- As emanating that assessee has submitted that it was an error in accounting. The said receipt was actually entered as adjustment to the purchase, instead of separate credit receipt. It is submitted that there is no effect on the profit reflected. This submission need factual verification. If the submission is found to be correct, the contention can be accepted that there is no effect on profit shown and addition again would result in double taxation. Hence, in the interest of justice, we remit the issue to the file of the AO. The AO shall examine the issue afresh after giving the assessee proper opportunity of being heard. In the result, this appeal by the assessee is allowed for statistical purpose.
|