CIT(A) Rules Against Revenue: No Basis for Substantial Additions Without Identifying Defects in Taxpayer Records.

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....Difference of turnover - less turnover shown in income tax return as compared to service tax return - CIT(A) held that merely the assessee accepted the addition in earlier year to save the cost of litigation that does not give liberty to the Assessing Officer to make huge addition without pointing out specific defects in the books of assessee or reply received from contractee party. - the order of Ld. CIT(A) is also based on factual analysis of Fo-26AS as well. Appeal of the Revenue stands dismissed. - AT....