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TMI Blog2023 (1) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... , ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the assessee against the order of the Ld.Commissioner of Income Tax (Appeals)-1 (in short the Ld. CIT(A)), Rajkot dated 04/09/2018 arising in the matter of assessment order passed under Section 143(3) of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2013-14. 2. When the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eceipt Shown Rs.7,43,07,700/- added to the total income of Rs. 4,13,081/- is unwarranted, unjustified and bad in law. 2. The learned Commissioner of Income Tax (Appeals) -1, Rajkot has erred in confirming the action of assessing officer in respect of charging the interest u/s.234A, 234B & 234C is unwarranted, unjustified and bad in law. 3. The learned Commissioner of Income Tax (Appeals)-1, Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - only to the total income of the assessee. 4. The assessee carried the matter before the learned CIT(A)and submitted that it has shown contract income considering the amount received before filing the return of income. The amount of difference i.e. Rs. 4,13,081.00 represents the amount received after filing of return of income. Therefore, no addition should be made on the basis impugned differen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has not disputed the receipts as such. Since, the income had accrued to assessee he was liable to include the same in the return of income and therefore the contention of assessee is rejected. Addition is confirmed. Ground of appeal is rejected." 6. Being aggrieved by the order of the learned CIT(A) the assessee is in appeal before us. 7. The learned DR before us vehemently supported the order o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made in the year under consideration, it shall certain lead to the double addition which is undesirable under the provisions of law. However, it is equally important to note that the assessee under a mercantile system of accounting has to declare income based on the concept of accrual. Be that as it may be, in the interest of justice and fair play we are inclined to give one opportunity to the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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