9911796707
TMI Blog2022 (11) TMI 822X X X X Extracts X X X X X X X X Extracts X X X X ..... stands deleted. Ground nos. 1 to 3 raised by the assessee are allowed. Admission of additional ground raised by the assessee - addition of undisclosed stock - Excess stock found during the course of survey - HELD THAT:- The assessee did not raise this issue before the ld. CIT(A), thus, accepted the addition. Now the assessee has challenged this issue referring to the judgment of M/S. Subarna Rice Mill [ 2018 (8) TMI 1475 - CALCUTTA HIGH COURT] We, however, are of the considered view that this issue raised in additional ground is not a legal issue and is purely based on the facts of the case, which stands already adjudicated and assessee opted not to challenge it before Ld. CIT(A). Thus, the same cannot be raised at this stage. We, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as culled out from records are that the assessee is partnership firm, engaged in the business of manufacturing and trading. Income at Rs. 40,83,510/- declared in the e-return for the AY 2013-14 filed on 30-09-2013. A survey u/s. 133A of the I.T Act, 1961 was conducted at the business premises of the assessee on 18- 12-2012 during which excess stock was detected by the survey team. Thereafter, the case was selected for compulsory scrutiny followed by serving of valid notices u/s. 143(2) 142(1) of the Act. After considering the submissions of the assessee income assessed at Rs. 63,02,800/-. 4. Aggrieved, the assessee preferred appeal before the ld. CIT(A) on the additions made by the ld. AO and assessee was able to partly succeed. 5. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditions made for undisclosed sale of scrap of Rs.10,01,000/-, we on perusal of Vat returns, copies of bill issued by the assessee, extract of the Act/Rules containing the item scrap as taxable good find that the alleged sum is not an undisclosed sale of scrap. The assessee regularly discloses the sale of scrap in its books of account and charged/paid GST thereon. Thus, we do not find any merit in the findings of the ld. CIT(A) and we are inclined to hold that the ld.AO erred in making the addition towards undisclosed sale of scrap at Rs.10,01,000/- ignoring the fact that the said sum duly disclosed/recorded as sales in the regular books of account. Therefore, the addition of Rs.10,01,000/- stands deleted. Ground nos. 1 to 3 raised by the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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