TMI Blog2018 (8) TMI 204X X X X Extracts X X X X X X X X Extracts X X X X ..... ing additional tax under Section 143(1A) of the Act. When the assessee did not produce any evidence that it had made payment of gratuity and bonus which are statutory dues, the Assessing Officer was justified in making adjustment of such amounts not paid. Having heard learned counsel for the parties and having perused the material on record, we do not find any error in the impugned judgment and order passed by the Income Tax Appellate Tribunal and the same is affirmed by this Court. - Income Tax Appeal No. 581, 582, 583, 580, 574 of 2011 - - - Dated:- 23-7-2018 - Hon'ble Bharati Sapru And Hon'ble Dinesh Kumar Singh, JJ. For the Appellant : Shakeel Ahmad For the Respondent : B. Agrawal, CSC,Manu Ghildyal ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itable issues can be disallowed and adjusted by the assessing officer u/s 143(1) (a) of the Act? 3. The appellant is a co-operative society, incorporated under the Regional Rural Bank Act, 1976. It is said that it has been carrying out the business of banking under the said Act and Banking Regulations Act, 1949. Therefore, it is entitled to deduction of whole of amount of profit and gains of business attributable to the banking activity within the meaning of Section 80P(2)(i) of the Act. The Assessment Years involved in these appeals are 1990-91, 1994-95 and 1995-96. All these five appeals are arising out of common judgment and order dated 31.08.2004 passed by the Income Tax Appellate Tribunal, Allahabad Bench, Allahabad. 4. The app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ereunder:- S.143(1A) (a) where as a result of the adjustments made under th first proviso to clause (a) of sub-section (1),- (I) the income declared by any person in the return is increased; or (ii) the loss declared by such person in the return is reduced or is converted into income, the Assessing Officer shall,- (A) in a case where the increase income under sub-clause (I) of this clause has increased the amount of tax payable under Sub-section (1) by an additional income-tax calculated at the rate of twenty per cent on the difference between the tax on the total income so increased and the tax that would have been chargeable had such total income been reduced by the amount of adjustment and specify the additional income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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