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2022 (4) TMI 900 - AT - Income TaxUnaccounted sales arises due to difference in receipts between the Assessee's books of account and as per Form No. 26AS - CIT(A) affirmed the amount on account of mismatch of amounts as per Form No. 26AS and gross receipts as per audited accounts on the ground that said amount was not accounted for by the Assessee in its gross receipts - HELD THAT:- As decided in the cases of Shri Kayyum Ahmed [2015 (5) TMI 1073 - ITAT DELHI] and Sohan Lal Aggarwal [2021 (8) TMI 1292 - ITAT DELHI] and submitted that in the identical situation, the Hon”ble Courts clearly held that in case of the difference between the Assessee”s books of account and as per Form No. 26AS, then on the said difference,only embedded portion of the profits is to be taken into consideration and the addition is to be made thereon but entire turnover cannot be added to the income of the Assessee We are inclined to accept the said decisions and consequently while taking into consideration the net profit rate of the previous year, in our considered view, the justice would be met by confirming the addition only to the extent of 5% of the undisclosed turnover. Hence, the AO is directed to restrict the addition to such extent only.
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