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TMI Blog2014 (3) TMI 845X X X X Extracts X X X X X X X X Extracts X X X X ..... difference in final account despite the assessee submitting two separate financial accounts prepared for submission to Bank and Income-tax. ii) On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition made by the AO of Rs.88,000/- on account of difference in balance of creditors despite the assessee failing to substantiate the same at the time of assessment proceedings. iii) On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition made by the AO of Rs.18,71,655/- on account of difference in purchase and sales despite the assessee failing to explain the same at the time of assessment proceedings. iv) On the facts and in the circumstances ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidering the facts and the submissions, the ld. CIT(A) observed that the provisional accounts were subject to modification by passing rectification entries after audit, hence the differences are bound to be between the provisional and audited statement of account. After considering both the audited as well as the provisional statement of accounts, the ld. CIT(A) was of the belief that the AO has gone totally by the provisional account and added the differences to the income. Since the account has been audited u/s.44AB, the AO should have taken the figures authenticated by the audit report and not by provisional statement of account. Accordingly, the ld. CIT(A) deleted the addition of Rs.7,84,840/-. Aggrieved, the Revenue is before us. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /-. The total difference was at Rs.18,71,655/-. The AO added this difference to the total income of the assessee. The assessee carried both these matters before the ld. CIT(A) and filed a detailed reconciliation statement. It was explained that the two credit notes of Rs.66,000/- and Rs.22,000/- were not accounted by the assessee in the Financial Year (F.Y.) 2008-09, whereas M/s. D. C. Infotech has accounted the credit notes in the F.Y. 2008-09. Therefore the difference of Rs.88,000/- arose during the year under consideration. The ld. CIT(A) was convinced with the explanation of the assessee and deleted the addition of Rs.88,000/-. Insofar as the difference in purchases and sales were concerned, the assessee filed party-wise details of purc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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