2015 (11) TMI 1856 - HC - Income Tax

Addition of income - HELD THAT - As in case the assessee shows better result during the year under consideration as compared to past year, then there is no need for making any further addition. The finding arrived by the Tribunal is in consonance with the settled law, therefore, no addition in the income could have been made by the Assessing Officer. The Tribunal rightly declared the addition made as erroneous. The appeal does not involve any substantial question of law, hence, dismissed.

Summary

The Rajasthan High Court upheld the decision of the Income Tax Appellate Tribunal, stating that no addition in income should be made if the assessee shows better results compared to the past year. The Tribunal found the addition made by the Assessing Officer to be erroneous. The appeal was dismissed as it did not involve any substantial question of law.