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2017 (12) TMI 1414 - AT - Income TaxMismatch between the audited profit and loss account and ITS details - The assessee is acting as agent on various Air Lines for domestic and international bookings. The assessee operates through its branches in almost all the major cities and places of tourist interest in India. - Held that:- On perusal of audited financial statement we note that the assessee has shown gross total income of ₹12,65,18,608/- as evident from the audited profit and loss account. Thus, the allegation of the AO that all the income shown in the ITS details has not been declared in income tax return does not hold good. The AO has not bought anything on record about the name of parties in respect of which the assessee failed to disclose income in its income tax return. Thus, we feel that no addition cannot be sustained in the given facts and circumstances. We also note that the additional income declared by assessee in its income tax return vis-à-vis in ITS details exceeds the income shown in ITS details. Once the income shown by the assessee is greater than the ITS details then no addition can be made on account of non-disclosure of income. - Decided against revenue
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