TaxTMI 
TaxTMI 
2015 (4) TMI 622
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....ppeal with the proposed following substantial questions of law. "[A] Whether the Appellate Tribunal is right in law and on facts in deleting the addition of Rs. 48,64,783/- made on account of discrepancies found between receipts as per TDS certificates and the receipts shown as income by the assessee in its return of income? [B] Whether the Appellate Tribunal and the CIT (A) have not substantially erred in admitting fresh evidence, without following due process under the I.T. Rules?" 2. That the assessee, who was carrying on business of contractor had procured four different contracts to be executed at four sites, namely, Surendranagar, Bhachau, Kachchh - Bhuj and Anjar from Gujarat Urban Development Company Limited. The assessee f....
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....ived as "Mobilization Advances" against four contracts and was to be accounted for as Revenue Receipts at the time of completion of work in the next year. 4. Since the assessee had accounted for the revenue receipt at Rs. 2,26,16,653/- only, but had claimed TDS amounting to Rs. 10,27,241/- on the basis of TDS certificate, the Assessing Officer presumed the assessee's total revenue receipt at Rs. 4,89,16,270/- and expenditure on account of payments made to sub contractors at Rs. 4,38,67,648/-. That the assessee was called upon to explain why the receipts should not be taken at Rs. 4,89,16,270/- against Rs. 2,26,16,653/- shown by the assessee. The assessee explained before the Assessing Officer that out of total receipts of Rs. 4,89,16....
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....ion Advance"in the year under consideration, the revenue preferred appeal before the learned Tribunal and by impugned judgment and order, the learned Tribunal has dismissed the appeal preferred by the revenue confirming the order passed by the learned CIT (Appeals) deleting the additions made by the Assessing Officer on account of "Mobilization Advance" in the year under consideration. 6. Feeling aggrieved by and dissatisfied with the impugned judgment and order passed by the learned Tribunal, the revenue has preferred the present tax appeal with the aforesaid proposed questions of law. 7. We have heard Mrs. Bhatt, learned advocate appearing for the appellant at length. We have also considered and gone through the orders passed by the....
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....e has established the factum of having received advance of Rs. 2,62,99,617/- by way of documentary evidence as well as the facts that it was following the same system regularly (Revenue has not disputed the claim), also the fact that the amount of advances was adjusted in the subsequent Assessment Year against bills in that year and the Revenue having not raised any objection for that treatment, we do not see any infirmity in the order of the CIT (Appeals) and therefore, the order of the CIT (Appeals) on this point is confirmed." 9. Considering the aforesaid facts and circumstances, it cannot be said that the learned Tribunal has committed any error in confirming the order passed by the learned CIT (Appeals) in deleting the additions mad....