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2015 (12) TMI 1522 - ITAT MUMBAI

2015 (12) TMI 1522 - ITAT MUMBAI - TMI - Addition being 1% of the total wages and salary - Held that:- We find that the assessee had offered the additional income on account of discrepancy in record in respect of certain payments made to certain parties on account of wages and labour charges. The AO has also made the disallowance finding discrepancies in the salary register. Hence, in our view, telescopic benefit is required to be given to the assessee in respect of the income offered on this ac .....

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he interest, for the period commencing on the day following the date of determination of total income under sub section (1) of section 143 or under section 143(3) as the case may be and ending on the date of reassessment or re-computation under section 147 or section 153A. On the amount by which the tax on the total income determined on the basis of the reassessment or re-computation exceeds the tax on the total income determined under sub section (1) of section 143 or on the basis of regular as .....

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iable as per the provisions of sub section (3) of section 234B of the Act. In view of the above, the AO is directed to calculate and compute the interest accordingly.

Addition u/s 68 on unexplained bank deposits - Held that:- The assessee has explained the source of entire deposits of more than ₹ 7 lakhs, we do not find any justification on the part of the lower authorities in disbelieving the source of above deposits of meager amount of ₹ 18,200/-. - Decided in favour of .....

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ter referred to as the CIT(A)]. Since the appeals are relating to the same assessee and the facts and issues involved therein are identical in nature, hence the same are taken together for disposal by this common order. First we take up the assessee s appeal for A.Y. 2009-10 bearing ITA No.7076/M/2012. ITA No.7076/M/2012 (for A.Y. 2009-10) 2. The assessee in this appeal has raised three effective issues. Vide ground No.1, the assessee has challenged the validity of the assessment order passed un .....

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of the total payment of wages to the labourers at ₹ 3,64,347/- on the ground that all the payments were made in cash only; in the salary register, in many places no signatures of the persons were there to whom the payments were made; in some places, the signature was not taken on revenue stamp and further in many places one person has signed in more than one place. 4. The Ld. CIT(A), however considering the fact and circumstances of the case and relying upon his own decision on identical i .....

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ditional income on account of discrepancy in record relating to wages and labour charges. The Ld. A.R. of the assessee has stated that the telescopic benefit of the discloser made by the assessee of ₹ 5,67,047/- is required to be given to the assessee. 6. We have gone through the records. We find that the assessee had offered the additional income on account of discrepancy in record in respect of certain payments made to certain parties on account of wages and labour charges. The AO has al .....

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l of the assessee are therefore allowed. 7. Vide ground No.4, the assessee has claimed that the interest under section 234B of the Act is to be calculated/computed from the date of original assessment order passed under section 143(1) of the Act and that the assessee is not liable to pay the interest on account of additions made in consequence of assessment made under section 153C of the Act for the period prior to the finalization of original assessment under section 143(1) of the Act. The asse .....

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(1) of section 143 or under section 143(3) as the case may be and ending on the date of reassessment or re-computation under section 147 or section 153A. On the amount by which the tax on the total income determined on the basis of the reassessment or re-computation exceeds the tax on the total income determined under sub section (1) of section 143 or on the basis of regular assessment under section 143(3) of the Act. The Hon ble Karnataka Bombay High Court in Vijay Kumar Saboo, HUF & Other .....

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t accordingly. 9. This appeal of the assessee is, thus, treated as partly allowed. 10. Now coming to the appeal of the assessee for A.Y. 2010-11 bearing ITA No.7077/M/2012. ITA No.7077/M/2012 11. The assessee in this appeal has taken three grounds of appeal. Vide ground No.1, the assessee has agitated the confirmation of addition of ₹ 18,200/- under section 68 of the Act being unexplained bank deposits. The AO, during the assessment proceedings, made an addition of ₹ 7,41,484/- on ac .....

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IT(A) accordingly restricted the additions made on this account to ₹ 18,200/-. 12. The Ld. A.R. of the assessee has explained before us that in fact the assessee has explained the source of entire deposits. He has further stated that the amount of ₹ 7000/- represented the deposit of cash which was withdrawn from M/s. Shree Sudha Enterprises. While the source of ₹ 11,200/- was refund received from Sales Tax Department against the deposit of Radhakrishna Distributors. The Ld. A.R .....

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