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2021 (8) TMI 108 - AT - Income TaxDifference between income shown as per Form 26AS and income shown as per profit and loss account - HELD THAT:- None appeared on behalf of assessee despite notice. We note that assessee has duly explained to the ld. Assessing Officer that the reason of impugned difference was partly relating to service tax which has been accepted by the ld. AO. However, the explanation of sales which has been considered differently in 26AS and profit and loss account has not been accepted by the ld. Assessing Officer. We note that no reason has been given by the AO as to why he is not accepting them. No case is made out that from the examination of records, the explanation has been found to be incorrect. Without giving any reason, the rejection of the explanation thereof is not sustainable. Hence, we direct that addition should be restricted to the difference as accepted by the assessee in its explanation - Appeal of the assessee stands partly allowed.
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