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2015 (6) TMI 886 - AT - Income TaxAddition on account of stock discrepancy - CIT(A) deleted the addition of ₹ 23,38,317/- on the ground that it was covered by disclosure of additional income of ₹ 35 lakhs made by the assessee - Held that:- DR could not cite any reason as to why the discrepancy of ₹ 23,38,317/- found by the AO on assessment could not be covered by the additional income of ₹ 35 lakhs, which was already offered by the assessee for taxation in the return of income. We find from the copy of computation of income filed with the return of income, copy of which is placed on record, that the assessee has separately offered for tax ₹ 35 lakhs as income apart from the income computed as per its books of accounts. In the absence of any material to show that any discrepancy of more than ₹ 35 lakhs was found in the books of accounts of the assessee, during the course of assessment, we do not find any error in the order of the CIT(A), which is hereby confirmed and the ground of appeal of the Revenue is dismissed. - Decided in favour of assessee.
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