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2018 (11) TMI 1546 - ITAT DELHIAddition made u/s 68 - unexplained cash deposits - assessee company failed to file the confirmations despite the opportunities - Held that:- AO during remand proceedings has not challenged authenticity/veracity of documents filed by assessee, which was verified by him. It is further pertinent to note that assessee declared said sum as its income and there was full disclosure of such sum as has been recorded by Ld. CIT(A). No infirmity in decision of Ld. CIT(A) in respect of cash found deposited in bank account. - Decided against revenue Addition of cash receipts for sale of car - AO admitted purchase of said car thereby allowed depreciation claimed during preceding assessment years - Held that:- On deliberating on facts, at this juncture, we do not think, Ld.AO has any right to interfere with genuineness of transaction now. We observe that Ld.AO grossly erred in accepting purchase of car, in the year of purchase thereby granting depreciation on it during preceding years, and it is merely impossible to rectify this error in the year under consideration, when sale occurred. In our considered opinion Ld.A.O. during year under consideration, cannot improve upon error committed by not verifying transaction of purchase of car during financial year 2006-07.- Decided against revenue Addition of advertising services - difference between declared receipt and offered receipt - Held that:- AO, has not disputed claim made by assessee, other than to state that no details/explanation was furnished during assessment proceedings. We agree with CIT(A) that this objection is without any merit. From assessment order, it is apparently clear that assessee had explained difference between declared receipt and offered receipt for taxation on account of accrual basis during year under consideration, whereas the bills in respect of these receipts were issued in succeeding assessment year and has been accepted by Ld.AO, while framing assessment for assessment year 2008-09.- Decided against revenue
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