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TMI Blog2022 (7) TMI 219X X X X Extracts X X X X X X X X Extracts X X X X ..... see is found correct then no disallowance to be made by the Assessing Officer on this issue. Computation of amount of tax refund - As per the assessee, the self-assessment tax was paid at Rs.24,41,680/- as against Rs.18,68,745/- calculated by the Assessing Officer. This issue is also restored to the file of the Assessing Officer for verification of the fact and to issue refund to the assessee if found so due as per the contention of the assessee. - I.T.A. No. 276/Kol/2022 - - - Dated:- 28-6-2022 - Shri Sanjay Garg, Judicial Member And Shri Girish Agrawal, Accountant Member Smt Preeti Lalwani, FCA, appeared on behalf of the appellant Shri Robin Chaudhary, Addl. CIT-DR, appeared on behalf of the respondent ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e contractor and suo moto reversed it in the immediately following financial year 2011-12 5 That on the facts and in the circumstances of the case, the learned CIT(A) ignored the fact that as a result of the said addition, the same amount is being taxed twice in two consecutive financial years, viz. F.Y 2010-11 and F.Y 2011-12 thereby violating the fundamental principle that the same income should not be taxed twice unless expressly provided in the Statute. 6. That on the facts and in the circumstances of the case, the learned CIT(A) failed to realize that there has been no/negligible revenue loss on part of the Income Tax Department as a result of the appellant s actions. 7 That on the facts and in the circumstances of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... book page 5 to submit that out of the total amount of Rs.24,02,058/-, an amount of Rs.23,52,059/- has already been reversed/added back by the assessee in the subsequent assessment year 2012-13. The ld. counsel, in this respect, has explained that there was ongoing dispute with the party in whose account the amount was credited in the books of accounts of the assessee. Since the payment was not made, hence TDS was not deducted. She has further submitted that since the entry has been reversed and the amount has been added back in the subsequent assessment year, therefore, no prejudice has been caused to the Revenue. Regarding balance amount of Rs.50,000/-, it has been explained that the said amount was duly paid after deduction of tax at sour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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