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2021 (7) TMI 452 - ITAT KOLKATAInterest on Investment - Addition debit of some amount out of interest income shown in earlier year(s) in the profit & loss accounts - amount was debited on account of a wrong credit made - HELD THAT:- Admittedly, the assessee has not debited the said amount on account of any transaction of expenditure. The case of the assessee is that a wrong credit by mistake was made in the earlier year and that the rectification entry has been made in this year. DR has been fair enough to submit that if it is a case of any mistaken entry and rectification thereof, the matter may be restored to the file of Ld. AO for verification of the said fact. The assessee has also made similar request. Both the ld. Representative of the parties, this issue is restored to the file of the Ld. AO for the limited purpose for verification of the fact as to whether the aforesaid amount was debited on account of a wrong credit made in the earlier year by mistake. If the contention of the assessee is proved, then no disallowance will be attracted in this case.
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