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TMI Blog2017 (12) TMI 1414X X X X Extracts X X X X X X X X Extracts X X X X ..... hown by the assessee in its computation of income. 2. The Ld. CIT(A) has erred on facts by accepting that the income of Rs. 2,11,53,391/- & income of Rs. 17,88,917/- fall under the category of income of tours & freight & out bound tours without the assessee providing any corroborative evidences. 3. Further the CIT has erred on facts by accepting assessee contention that it has not earned any rental income when the evidences as per ITS details contrary. 4. That he appellant reserves the right to amend, alter or add to any grounds of appeal before or at the time of hearing of the appeal." Shri Arindam Bhattacharjee, Ld. Departmental Representative appeared on behalf of Revenue and Shri Asim Chowdhury, Ld. Advocate appeared on behal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... financial statement. Thus, the contractual receipt for Rs. 2,11,53,391/- has already included in such income. However, the party has wrongly deducted tax on behalf of assessee u/s 194-I of the Income Tax, Act, 1961 (hereinafter referred to as 'the Act'). However, the corresponding income has already been included in the gross income as declared in the audited financial statement. In view of above, assessee submitted that all the income has shown in ITS details have been duly disclosed in its income tax return. However, the AO observed that the assessee failed to make specific submission as well as reconciliation of the income between the ITS details viz-a-viz financial statement. Therefore, the addition was made for Rs.1,30,500/- to Rs.2, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and moreover retuned income as per P&L A/c far exceeded the ITS details for which no adverse conclusion could be drawn in this regard. This proposition of the appellant was backed by the decision of the ITT, Mumbai as in the foregoing, wherein it was held that addition solely on the basis of AR information was not sustainable. Further, I find that as per letter dated 18.02.2011, the assessee had explained to the AO the factual details with respect to the impugned matters that (a) there was no rental income actually receive das per the books during the year under consideration and (b) with regard to professional receipt u/s 1194J and receipts u/s. 194C, reconciliation statement party-wise were also submitted before the AO. These same submis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs of the lower authorities and the case laws relied upon by the assessee. In the case on hand the addition was made by the AO on the ground that the income shown in ITS details of the assessee was not disclosed in the income tax return. However, on perusal of audited financial statement we note that the assessee has shown gross total income of Rs.12,65,18,608/- as evident from the audited profit and loss account which is placed on page 22 of the paper book. Thus, the allegation of the AO that all the income shown in the ITS details has not been declared in income tax return does not hold good. The AO has not bought anything on record about the name of parties in respect of which the assessee failed to disclose income in its income tax retu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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