9911796707
TMI Blog2015 (9) TMI 1407X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commissioner of Income-Tax (Appeals)-II, Kolkata dated 03.03.2015 for the assessment year 2010-11 and the solitary issue raised therein relates to the addition of Rs. 1 lakh made by the AO and sustained by the ld. CIT(A) on account of difference in the balance of one debtor, M/s. Sen & Associates. 2. The assessee, in the present case, is a partnership firm, which is engaged in the business of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to that extent. 3. The addition of Rs. 1,36,815/- made by the AO was challenged by the assessee in the appeal filed before the ld. CIT(A). During the course of appellate proceedings before the ld. CIT(A), it was submitted by the assessee that the balance in the account of the concerned debtor, as per its books of accounts, was a result of sales made to the said party and since the entire sales ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the books of accounts of the assessee. According to him, the said amount received in cash might have been either spent by the assessee out of books of accounts or would have been available with the assessee. He held that the amount of Rs. 1 lakh, thus, was liable to be added to the total income of the assessee either under section 69A or section 69C of the Act and accordingly the addition ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this stand was taken by the assessee even before the ld. CIT(A), but he proceeded to sustain the addition made by the AO to the extent of Rs. 1 lakh observing that the payment made by the concerned debtor having not been accounted for by the assessee in its books of account, the same might have been spent out of books of accounts or was available with the assessee. He accordingly held that the add ..... X X X X Extracts X X X X X X X X Extracts X X X X
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