2018 (9) TMI 1536

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....AH, AM: This is an appeal by the assessee against the order of CIT(A)-4, Hyderabad dated 27.11.2017. 2. Briefly stated facts are that Assessee, an individual is doing business and also has salary and house property incomes. Assessee filed return of income admitting total income of Rs. 94,470/- and the assessment has been completed assessing the income at Rs. 12,49,470/-. As A.O noticed that ....

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....itted that the total expenditure on advertisement was of Rs. 10,02,455/-, which resulted in a loss of Rs. 57,477/-. As the activity resulted in loss, the Assessee did not offer the same in the return. It was claimed that corresponding expenditure should be allowed. Ld. CIT(A) however, dismissed the contentions by stating as under: "6.3 I have carefully considered the assessment order, f a....

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....isclosure of the information. Ld. Counsel relied on the various case law in support of the contentions. 5. After considering the rival contentions, I am of the opinion that reopening of the assessment is valid for simple reason that Assessee has not disclosed the entire business of M/s G.P Infotainment in the return of income as admitted before Ld. CIT(A). Since there is a failure on the part o....

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....me were not subjected to verification by the A.O. In the interest of justice I am of the view that this entire receipt and expenditure as claimed by Assessee require proper verification by A.O. Therefore, A.O is directed to examine the receipts and payments to Zee News and correlate the payments with the business activity and, if so found correct, allow the expenditure to the extent of the receipt....