2021 (1) TMI 394

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.....Ghale, Standing Counsel for Department ORDER This appeal at the instance of the assessee is directed against CIT(A)'s order dated 29.07.2019. The relevant assessment year is 2015-2016. 2. The solitary issue argued was whether the CIT(A) has erred in confirming the addition made by the Assessing Officer due to mismatch of turnover as per the return of income filed by the assessee vis-&agr....

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....as submitted that the credit note to the extent of Rs. 10,43,500 towards defects in quality of dyeing, colour variation etc. are duly accounted in the books of account of the debtor / customer. However, unfortunately the said debtor / customer has not filed revised TDS return for the reason that the entire TDS amount was remitted on the basis of provisional bill raised by the assessee and also on ....

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....CIT(A) reads as follow:- "4. The appellant has also not explained as to why the customer having received the credit note dt 31.03.2015, did not revise the TDS Return to rectify the transaction recorded. Considering all the above, I am of the view that the appellant failed to establish the genuineness of the transaction to rebut the findings given by the AO in para 3.0 to 3.02 of ....

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....e orders of the Income Tax Authorities. 7. I have heard the rival submissions and perused the material on record. The learned AR submits that M/s.Bharat Silks has filed the revised TDS return disclosing the correct turnover of Rs. 54,07,405. If the statement of the learned AR is true, the same would be reflected in Form 26AS. In the interest of justice and equity, I am of the view that the matt....