ACIT CORPORATE CIRCLE 6(1), CHENNAI vs. SAK INDUSTRIES PRIVATE LIMITED, CHENNAI

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ITA 2225/CHNY/2018Status: DisposedITAT Chennai24 September 2021AY 2013-143 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The CIT(A) rightly directed the AO to verify the assessee's reconciliation and delete the addition if found correct. The Tribunal found no infirmity in the CIT(A)'s order.

What were the facts?

The Assessing Officer (AO) added a difference between gross receipts and the Individual Transaction Statement (ITS) without providing a breakdown or opportunity for reconciliation. The assessee claimed their ITRs and Service Tax Returns were reconciled.

What were the issues?

Whether the AO erred by not providing an opportunity to the assessee to reconcile differences in transaction data before making an addition.

Which sections of the Income-tax Act were involved?

Section 40A(2)(b)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH: CHENNAI

Before: SHRI V. DURGA RAO & SHRI G. MANJUNATHA

Hearing: 06.09.2021Pronounced: 24.09.2021

infirmity in the order passed by the Ld. CIT(A). Accordingly, this ground of appeal raised by the Revenue is dismissed.

I.T.A No.2166/Chny/2017 :- 3 -:

4.

In the result, the appeal in Revenue is dismissed.

Order pronounced on 24th September, 2021 in Chennai.

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