TMI Blog2017 (12) TMI 1414X X X X Extracts X X X X X X X X Extracts X X X X ..... ecord about the name of parties in respect of which the assessee failed to disclose income in its income tax return. Thus, we feel that no addition cannot be sustained in the given facts and circumstances. We also note that the additional income declared by assessee in its income tax return vis-à-vis in ITS details exceeds the income shown in ITS details. Once the income shown by the assessee is greater than the ITS details then no addition can be made on account of non-disclosure of income. - Decided against revenue - ITA No.1160/Kol/2015 - - - Dated:- 26-12-2017 - Shri Waseem Ahmed, Accountant Member And Shri S.S.Viswanethra Ravi, Judicial Member For The Appellant : Shri Arindam Bhttacharjee, Addl. CIT-DR For The Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re that the assessee is a limited company and engaged in business of travel agency, tour operator and dealing in foreign exchange. The assessee is also a Member of International Air Transport Association and travel agent association of India. The assessee is acting as agent on various Air Lines for domestic and international bookings. The assessee operates through its branches in almost all the major cities and places of tourist interest in India. 4. The AO during the course of assessment proceedings on the basis of ITSs details observed that assessee has not shown following income in its books of account:- i) Contractual receipts ₹2,11,53,391- ii) Rental income of ₹1,30,500/- iii) Professional fee of ₹17,88,91 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... detailed reconciliation was filed before the AO for the income as per ITS details and the income shown in the income tax return. A partywise reconciliation was filed reconciling all the entries except a few mismatch. As per the ITS detail the income was at ₹8,92,07,466/- whereas the assessee has declared its gross income at ₹12,65,18608/- in its profit and loss account. Thus, the income declared by assessee is higher than the income as per ITS details. The assessee in support of its claim has relied on the order of Hon'ble Mumbai Tribunal in the case of M/s AF Fergson Co. C/o Deloitte Haskina Sells v. JCIT ACIT-11(2),Mumbai 5037/Mum/2012 ITA No.437/Mum/2013. The Ld. CIT(A) after considering the submissions of asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on the basis of AIR information would not hold good since the returned amount was more than the AIR information which should not call for any adverse decision as spelt out in the ITAT s decision, supra, in the case of S. Ganesh vs. ACIT, ITA No. 527/Mum/2010 dated 08.12.2010 . Following the judicial precedence on the pertinent issues involved in the appellant s case as discussed in the foregoing, impugned order have no hesitation in holding that the ads made by the AO do not merit any sustenance t the appellate stage and the same are directed to be deleted. The Revenue, being aggrieved, is in appeal before us. 6. Before us Ld. DR heavily relied on the order of AO whereas Ld. AR for the assessee filed paper book which is running ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own in ITS details. Once the income shown by the assessee is greater than the ITS details then no addition can be made on account of non-disclosure of income. In holding so, we find support and guidance of Hon'ble Mumbai Tribunal in the case of M/s AF, Ferguson Co. C/o Deloitte Haskins Sells Vs. JCIT ACIT in ITA No.5037/Mum/2012 and ITA No.437/Mum/2013 dated 13.10.2014, wherein it was held as under:- 6. We have considered the rival contention of the ld. Representatives of the parties. It P L account far exceeds than the amount shown in the AIR information. Even the assessee has reconciled the major portion of the receipt. It has not been denied by the the AIR information. The addition in this case has been made by the low ..... X X X X Extracts X X X X X X X X Extracts X X X X
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