Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s R.V. Constructions Versus. ITO

2015 (7) TMI 1056 - ITAT LUCKNOW

Addition on account of Bank Interest and Charges, Interest on FDR and Figures of credit in P/L Account - enhancement of income by CIT(A) - Held that:- We find that it is stated by the assessee before CIT (A) that the books were lost when the same wer .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

contentions against the additions made by the A.O. and also against the enhancement proposed by CIT (A). Hence, we feel that under these peculiar facts, it is fit and proper to uphold the additions made by the A.O. but to delete the enhancement of &# .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

R YADAV, JUDICIAL MEMBER And SHRI A.K. GARODIA, ACCOUNTANT MEMBER For the Appellant : Shri Yogesh Agarwal, Advocate For the Respondent : Shri Harish Gidwani, Sr. DR ORDER PER A. K. GARODIA, A.M. This is assessee s appeal directed against the order of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Bank Interest and Charges, ₹ 134,703/- on account of Interest on FDR and ₹ 10,047/- on account of Figures of credit in P/L Account. The second grievance is about enhancement made by CIT (A) of ₹ 35 Lacs. 3. Learned AR of the assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

submitted that even after rejecting the books u/s 145 (3) and estimating business income by applying net profit rate, the A.O. also made these three additions of ₹ 11,844/- on account of Bank Interest and Charges, ₹ 134,703/- on account o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed by him in Para 3 of his order that the appeal is not pressed but he did not allow withdrawal of appeal and made enhancement. He submitted that in view of this fact that the books of the assessee were lost in course of appellate proceedings, the as .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ut the enhancement made by CIT (A) should be deleted. Learned DR of the revenue supported the order of CIT (A). 4. We have considered the rival submissions. We find that it is stated by the assessee before CIT (A) that the books were lost when the sa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version