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TMI Blog2021 (1) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... at Silks has filed the revised TDS return disclosing the correct turnover. If the statement of the learned AR is true, the same would be reflected in Form 26AS. In the interest of justice and equity, matter should be examined by the AO. Accordingly, the issue is restored to the files of the A.O. A.O. is directed to examine whether Form AS26 discloses the correct turnover as that of the turnover di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the return of income was filed declaring loss of ₹ 31,452. The assessment was taken up for scrutiny by issuing of notice u/s 142(1) of the I.T.Act. During the course of assessment proceedings, the A.O. noticed that there was difference of turnover in the return of income filed and Form 26AS, which amounted to ₹ 10,43,500. The assessee was asked to reconcile the difference. The assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions of the assessee by observing that - "3.01……….. The debtor had comfortable time to revise the TDS return, but did not do so. In the circumstances of the case, it is construed that the assessee exercised to avoid the receipts for taxation. However, the case, the assessee will take such stand only if the debtors revise the return of TDS." Therefore, the A.O. added a sum of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his appeal before the Tribunal. The assessee has filed a paper book enclosing therein the confirmation letter of M/s.Bharat Silks (the debtor / customer of the assessee) and other documents placed before the Income Tax Authorities. The learned AR stated that the revised TDS return has been filed by M/s.Bharat Silks showing the correct turnover of ₹ 54,07,405. However, it was stated that nece ..... X X X X Extracts X X X X X X X X Extracts X X X X
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