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M/s. Sarovar Homes Pvt. Ltd. Versus ACIT-4 (3) , Mumbai

Receipt of labour charges - difference in amount offered for taxation - assessee filed reconciliation - Held that:- We find that during the assessment proceedings, the AO had observed that the assessee was in receipt of labour charges of ₹ 9. 35 crores for the year under consideration and had offered ₹ 9. 29 crores only for taxation, that the assessee filed reconciliation in that regard, that he directed the assessee to file further reconciliation of the receipts in the cases of NLL .....

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es containing the details of service tax and TDS, that it had also explain as to how the retention money was affecting the bill amounts, that while deciding the appeal the FAA did not consider the debit notes and the Ledger accounts in proper perspective, that it had also explained as to why there was difference between the ledgers of both the parties and the ledgers maintained by it, that the FAA ignored the submissions made by it. In our opinion, the reconciliations submitted by the assessee a .....

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avour of the assessee in part. - ITA/4431/Mum/2012 - Dated:- 5-8-2016 - Shri Rajendra, Accountant Member and C. N. Prasad, Judicial Member Revenue by : Shri R. K. Sahu-DR Assessee by : Shri Bhupendra Shah ORDER Per Rajendra, AM Challenging the order, dated 10/08/2011, of the CIT (A)-8, Mumbai, the assessee has filed the present appeal. Assessee-company, engaged in the business of construction, development, builders and building contractors, filed its return of income on 23/ 11/ 2006, declaring t .....

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rse of hearing before us, the Authorised Representative(AR)reiterated the same arguments that are part of the affidavit and the application filed by the assessee for condoning the delay. Considering the circumstances and facts of the case and the period of delay, we are of the opinion that delay should be condoned. 3. Effective ground of appeal deals with addition of ₹ 33. 82 lakhs. During the assessment proceedings, the AO found from the certificates of TDS claim that the assessee was in .....

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furnished. He directed it to reconcile the difference. In its reply, the assessee filed the reconciliation statements with regard to Nirmal Lifestyle Ltd. (NLL)and Hiranandani Akuti JV(HAJ) and claimed that there was no difference in the income shown in the books of accounts and the text deducted at source certificates. However, the AO held that the explanation submitted by the assessee was not acceptable, that he had made certain enquiries by issuing notices u/s. 133 (6)of the Act with both the .....

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the receipt of ₹ 4. 78 crores in the first the statement, that in the case of HAJ there was difference of ₹ 8. 72 lakhs, that the assessee had submitted the reconciliations without any supporting documents. Finally, he held that there was variation in labour charges of ₹ 33. 82 lakhs. He added the said sum to the total income the assessee. 4. Aggrieved by the order of the AO, the assessee preferred an appeal before the First Appellate Authority (FAA). Before him, it was argued .....

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essment was getting time-barred, that he passed the order without considering the relevant material. After considering the assessment order and the submission of the assessee, the FAA held that the reconciliation statements filed by it were not credible, that the payment of VAT was not made in the year under consideration, that there was difference in the accounts of the parties from the assessee had received the payment and in the books of accounts of the assessee, that it had not filed a justi .....

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ook. The Departmental Representative(DR) supported the order of the AO and the FAA. 6. We have heard the rival submissions and perused the material before us. We find that during the assessment proceedings, the AO had observed that the assessee was in receipt of labour charges of ₹ 9. 35 crores for the year under consideration and had offered ₹ 9. 29 crores only for taxation, that the assessee filed reconciliation in that regard, that he directed the assessee to file further reconcil .....

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