M/S. BLUE LOTUS COMMUNICATION PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER CIRCLE-3(1)(2), MUMBAI

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ITA 2279/MUM/2018Status: DisposedITAT Mumbai19 July 2019AY 2012-133 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the CIT(A) had not gone into the merits of each party's reconciliation. Since the assessee provided complete details before the Tribunal, the issue was set aside to the CIT(A) for fresh adjudication.

What were the facts?

The assessee's P&L account showed a difference in receipts compared to Form 26AS. The AO made an addition of ₹10,84,842/- for this discrepancy. The CIT(A) confirmed the addition after partially reconciling some differences.

What were the issues?

Whether the CIT(A) erred in confirming the addition for the difference between P&L account receipts and Form 26AS without a proper examination of the merits of reconciliation.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “B”, MUMBAI

Before: SHRI MAHAVIR SINGH & SHRI RAJESH KUMAR

For Appellant: Shri Devendra Jain, AR
For Respondent: Shri S. Abi Rama Karthikeyan, DR

O R D E R PER MAHAVIR SINGH, J.M: This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax(Appeals)-8, Mumbai, dated 18-01-2018 in Appeal No.CIT(A)-8/IT-256/15-16. The assessment was framed by the Income Tax Officer, Circle-3(1)(2), Mumbai, u/s. 143(3) of the Income Tax Act, 1961 [herein after 2 referred to as ‘Act’] for the AY 2012-13, vide his order dated 27- 03-2015.

2.

The only issue in this appeal of assessee is against the order of CIT(A) confirming the addition made by the Assessing Officer (AO) being difference of ₹10,84,842/- as per the P&L A/c and Form No.26AS. For this, assessee has raised the following Ground: “On the facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred in confirming the action of the Ld.AO of adding difference of ₹10,84,842/- towards difference between receipts as per P&L A/c and Form 26AS”.

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