2010 (12) TMI 1257

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..... rder of the C.I.T.(A), Durgapur dated 15.09.2009 for the assessment year 2006-07. 2. The only effective issue raised by the assessee in this appeal is relating to the addition of ₹ 3,70,240/-. 3. Brief facts of the above issue are that, while doing the scrutiny assessment, the AO made an addition of ₹ 3,70,240/- by observing that the assessee is doing contract work for Simplex Co .....

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..... r and if any amount remains outstanding payment that is definitely retention money or otherwise security deposits which should not consider as turnover exceeding the amount we have already shown . However, the AO has not considered the same. Therefore, the amount receivable, shown by Simplex Concrete Piles (India) Ltd., added to the income of the assessee. 4. On appeal, the Ld. CIT(A) has confi .....

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..... mplex Concrete Piles (India) Ltd. dated 19.11.2010 wherein they have confirmed that they have received the amount of ₹ 3,70,240/- from the assessee on various dates from 4.4.2006 to 09.06.2006 by way of cheques. Therefore, he requested to delete the addition made and confirmed by the revenue authorities. 7. On the other hand, the Ld. D.R., appearing on behalf of the Revenue, relied on the .....

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