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2020 (12) TMI 1035 - AT - Income TaxBenefit of telescoping the commission income with the income declared in the return - assessee had pleaded before the ld. CIT(A) by conceding and accepting that it earned commission income on bogus entries but further pleaded that the said commission income should have been restricted only to transactions with outside companies and not to transactions with group companies controlled by Shri Shirish C Shah - HELD THAT:- In view of the decision of this Tribunal for A.Y.2011-12 where the benefit of telescoping is granted, we direct the ld. AO to allow telescoping of commission income against income declared in the books of accounts for all the assessment years. DR agreed that this issue already is decided in favour of the assessee. Increase in investment - HELD THAT:- As assessee company vide its written submissions before the ld. CIT(A) had submitted that amount of increase in investment for the aforesaid two years had been wrongly computed by the ld. AO and there is no increase in investment at all. On the contrary, there is only decrease in investments. The assessee filed some chart before us to drive home the point that there is effectively only decrease in investments in both the years. In the interest of justice and fairplay, we deem it fit and appropriate that the aforesaid chart on investments filed by the assessee requires to be revisited by the ld AO and we deem it fit to remand this issue to the file of ld. AO for denovo adjudication
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