9911796707
TMI Blog2019 (2) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... sclosed income by wrongly alleging that undisclosed TDS of Rs. 9504/- was not shown in ITR. 2. Under the facts and circumstances of the case the Learned CIT(A) 4, Jaipur has grossly erred in law as well as facts in confirming the addition without considering the explanation submitted by the assessee firm and reply to Remand report of learned AO dated 3. That the Appellant assessee firm craves for a leave to add, alter and amend any Grounds of appeal at the time of appellate hearing." 2. Ground No. 1 of the appeal is regarding the addition of Rs. 1,29,074/- on account of undisclosed income revealed as per 26AS. During the course of assessment proceedings, the Assessing Officer noted that there was an amount of Rs. 9,504/- of undisclosed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e four entries in the latest Form No. 26AS which has laid to the difference of this amount, however these amounts were not received by the assessee. So far as it pertains to Capital First Ltd, TVS motors and Raj Motors. As regards the amount of Rs. 60,000/- shown as receipt from Worldwide Machinery Solution Pvt. Ltd., the ld AR has submitted that the assessee has already declared the interest income from the said party of Rs. 1,43,400/- and therefore, the said amount of Rs. 60,000/- was part of the interest already declared by the assessee and no further addition can be made on this account. Since this amount was not reflected in the Form No. 26AS at the time of filing of return of income, therefore, the assessee has even not claimed the TD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 18.08.2015 (PB 5-6) no income from M/s Worldwide Machinery Solution Pvt. Ltd. is reflected but in Form No.26AS downloaded on 21.11.2017 (PB 9) such amount is reflecting at Rs. 60,000/- as against Rs. 1,43,400/- declared by the assessee in the income. Thus, assessee has already included higher income than that reflected in Form No.26AS, hence, the amount of Rs. 60,000/- cannot be again included in the income. (d) Assessee was having a workshop for servicing of Honda vehicles and whenever some spare parts etc. are required on urgent basis it was purchased from M/s Raj Motors. The fact of purchase of spare parts from Raj Motors is evident from copy if his ledger account placed at PB 22-28. In the Form No.26AS downloaded on 18.08.2015, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us receipts shown in the return of income as well as per Form No. 26AS. He has relied upon the orders of the authorities below. 5. We have considered the rival submissions as well as relevant material on record. The Assessing Officer has made the addition of Rs. 1,29,074/- on account of the receipts shown in the Form 26AS which was not declared by the assessee in the return of income. The ld AR of the assessee has now explained that this amount of Rs. 1,29,074/- is comprising of four different receipts shown in the Form No. 26AS in respect of four parties but these entries were not appearing in the Form No. 26AS as downloaded by the assessee on 18/08/2015 at the time of filing of return of income. The discrepancy in the amount which is sho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he traces. The Assessing Officer has made addition without verification of the nature of the receipt and even without verification whether any incorrect details are uploaded in the account of the assessee. Therefore, merely because there is a TDS details uploaded by the other party would not ipso facto amounts to an additional receipt by the assessee which can be considered as income. The assessee has submitted that the additional amount shown as receipt from Capital First was never received by the assessee, therefore, it requires a proper verification from the other party as to what this amount of Rs. 20,970/- on which the TDS of Rs. 2,098 was deducted U/s 194H of the Act is actually representing. Accordingly we direct the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e TVS motors or not is to be verified from the other party. Hence, the Assessing Officer is directed to verify whether the said amount was payable by the said company to the assessee or actually paid during the year under consideration or not and then consider the same after giving an opportunity of hearing to the assessee. 5.2 As regards the receipt of Rs. 60,000/- as rent from Worldwide Machinery Solution Pvt. Ltd., we find that the assessee has already shown an interest income of Rs. 1,43,400/- from Worldwide Machinery Solution Pvt. Ltd., therefore, a lessor amount shown in the Form No. 26AS would not lead to the conclusion that this is an additional income of the assessee when the assessee has already declared the interest income from ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
