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2018 (2) TMI 519

Head Note / Extract:
Addition on account of receipts not recorded in the books of accounts - Held that:- Tribunal came to correct conclusion that the Commissioner, Income Tax (Appeal) has rightly granted part relief to the assessee as both the service and escort charges were shown separately in profit and loss account on net basis.

Dis-allowance out of certain expenses on the basis of certain discrepancies found therein - A.O. has disallowed a percentage of such expenses on the ground that most of these expenses have been incurred in cash and the vouchers have been prepared in one handwriting - Held that:- Both of such observation were found incorrect because while such amounts were expended both by cash and cheque, the vouchers were prepared by computers and handwritten vouchers were in many handwritings. Entries on each voucher are narrative which includes transaction detail, type of work & L.R. No. of each transaction. Payment of appellant in released by Idea cellular only after verification of work done as appearing in such vouchers. When books of accounts of appellant wereduly audited & A.O. failed to find any defects in detailed vouchers maintained by appellant, hence adhoc dis-allowance as percentage of such expenses is not at all justified - Revenue appeal dismissed.


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