9911796707
TMI Blog2024 (5) TMI 588X X X X Extracts X X X X X X X X Extracts X X X X ..... AS, the same was claimed by the assessee in the return for AY 2014-15. As submitted that in SAP software, there is no scope for passing any backdated entries by the assessee. It was also submitted that as far as the income offered to tax is concerned, the assessee had only considered the receipts reflected in Form 26AS while filing the return. As explained that domestic sales eligible for tax deduction as per Form 26AS was Rs 22.32 crores against which TDS was done for Rs 1.40 crores. This has been considered in the return of income by the assessee. TDS reconciliation for the same as per Form 26AS and TDS receivable as per books was filed by the assessee. AO however ignored the contentions of the assessee and extrapolated the receipts based ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.12.2016 by the Assessing Officer, DCIT, Circle-10(1), New Delhi (hereinafter referred to as ld. AO ). 2. The only issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in confirming the addition made in the sum of Rs 1,71,63,460/- on account of mismatch in receipts between Profit and Loss Account and Form 26AS in the facts and circumstances of the instant case. 3. We have heard the rival submissions and perused the materials available on record. The assessee company is engaged in the business of advertisement, media planner and in providing media related services. The return of income for the Asst Year 2014-15 was filed by the assessee on 27.9.2014 declaring Nil income under normal provisions of the Act and Book ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. It was also submitted that as far as the income offered to tax is concerned, the assessee had only considered the receipts reflected in Form 26AS while filing the return. It was explained that domestic sales eligible for tax deduction as per Form 26AS was Rs 22.32 crores against which TDS was done for Rs 1.40 crores. This has been considered in the return of income by the assessee. The TDS reconciliation for the same as per Form 26AS and TDS receivable as per books was filed by the assessee. The ld. AO however ignored the contentions of the assessee and extrapolated the receipts based on TDS mismatch of Rs 17,16,346/- and arrived at the income of Rs 1,71,63,460/- and made addition to that extent in the assessment. This action ..... X X X X Extracts X X X X X X X X Extracts X X X X
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