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2017 (3) TMI 1373 - AT - Income TaxUnaccounted sale/receipts added as voluntarily surrendered by the assessee - Held that:- This fact has not been controverted by the learned DR that the assessee submitted all the sale bills which were prepared on very next date of survey i.e. 25.2.2010 to ensure that the impugned amount should be included in the trading results/income of the assessee. When the impugned amount which was picked up by the Assessing Officer for making the addition, has been shown as receipt in the accounts of the assessee and such receipts of ₹ 45,18,389/- were actually included in the total turnover shown by the assessee in the books of accounts and the same were also offered to tax then in our opinion the Assessing Officer was not justified in making the addition of the same amount on the ground of retraction by the assessee. Assessing Officer has prompted to make double addition by ignoring the fact that the amounts surrendered during the course of survey have been included by the assessee in the books of accounts and financial results of the assessee which obviously amounts to double addition which is not permitted as per the provisions of the Act. In this situation, the learned CIT(A) was quite correct in deleting the impugned baseless addition and we are not able to see any valid reason to interfere with the order of the learned CIT(A) in this regard and, hence, we uphold the same.- Decided in favour of assessee.
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