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TMI Blog2024 (9) TMI 344X X X X Extracts X X X X X X X X Extracts X X X X ..... ce, there is no requirement of making addition of aforesaid amount u/s. 41(1) again. Hence the addition made by CPC has resulted in double taxation of same item of income, which is not permitted under the Act. Accordingly, the said addition is liable to be deleted. CIT(A) has given much emphasis on the abstract information given in the return of income and he did not recognize the fact that the net profit disclosed and consequently, the total income computed by the assessee has already included the above said amount. Accordingly, we set aside the order passed by CIT(A) on this issue and direct the AO to delete the addition made u/s. 41(1) of the Act by CPC. Assessee appeal allowed. - SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SUNIL KU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee. However, while processing the return of income, the CPC added the above said amount again. It is the grievance of the assessee that the addition so made by the CPC has resulted in double taxation of the same item of income. 4. Hence the assessee filed appeal before Ld CIT(A) contesting the above said addition. The Ld CIT(A) noticed that the assessee itself has reported the aforesaid amount in Column 14, Part A-01 of the Income Tax Return as the amount taxable u/s 41(1) of the Act. Accordingly, the Ld.CIT(A) confirmed the addition made by CPC. 5. The ld. A.R submitted that the above said amount was already credited to the P L Account and hence the net profit would include the above said amount. The total income has been computed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e has already included the above said income. Hence, there is no requirement of making addition of aforesaid amount u/s. 41(1) of the Act again. Hence the addition made by CPC has resulted in double taxation of same item of income, which is not permitted under the Act. Accordingly, the said addition is liable to be deleted. 9. We notice that the Ld.CIT(A) has given much emphasis on the abstract information given in the return of income and he did not recognize the fact that the net profit disclosed and consequently, the total income computed by the assessee has already included the above said amount. 10. Accordingly, we set aside the order passed by Ld.CIT(A) on this issue and direct the Assessing Officer to delete the addition of Rs. 60,19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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