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2018 (2) TMI 46 - AT - Income TaxAddition U/s 69-C - differences in purchase has not been proved by the assessee due to input VAT, as claimed by the assessee - Held that:- In the remand report of AO it is clearly mentioned that assessee has explained the difference with reconciliation statement on production of different ledgers, VAT Returns etc. therefore, there is no question of treating the amount as ‘unexplained expenditure’. We note that CIT(A) did not considered the remand report at all therefore, it is against the principle of natural justice. Therefore, based on the factual position, we delete both the additions made by AO, [that is, we delete addition based on undisclosed purchases by applying GP rate at ₹ 95,654/-, (@ 3.11% of ₹ 30,75,702), and under section 69C as unexplained expenditure ₹ 30,75,702/-]. - Decided in favour of assessee.
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