Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (1) TMI 105 - ITAT MUMBAIUndisclosed income - difference of income worked out during the course of survey and the amount of income declared in the return of income - HELD THAT:- The details produced by the assessee before AO were not found to be in any way false. Thus there is no reference of professional fees paid during survey. The debit of professional fees which was reduced from the gross receipts, was already accounted for at the time of survey and therefore, that reduction should have been granted to the assessee, this also because of the reason that sum of Rs. 30 lakhs reduced contained only the discount and repetitive bills. Further, as per paragraph No.10 of the order of the Learned CIT-A, the finding was given that the difference of Rs. 56,666/- only remains unexplained. With respect to paragraph No.13 of the order of the Learned CIT-A, he has found the error in the duplicate bills, amounting to Rs. 4,22,595/- out of the claim of Rs. 11,07,238/-. In view of the above facts, out of the addition of Rs. 11,07,238/- of the duplicate bills, the relief could not have been granted only to the extent of Rs. 4,22,595/-. Therefore, the assessee should have been granted the reduction of Rs. 6,84,643/- out of repetitive bills over and above Rs. 30 lakhs. As per the information available on record, the assessee should be granted reduction of the professional fees paid of Rs7,62,730/- and repetitive bills of Rs. 6,84,643/-. Therefore, the assessee deserves the benefit of Rs. 14,47,343/- out of the total addition made of Rs. 19,26,634/-. Therefore, we direct the Learned Assessing Officer to retain the addition of Rs. 4,79,261/- out of the total addition of Rs. 19,26,634/-. Appeal of the assessee is partly allowed.
|