2023 (9) TMI 751

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....pellant : Shri S. N. Divatia, A.R. For the Respondent : Shri Ashok Kumar Suthar, Sr. D.R. ORDER PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax(Appeals), (in short "Ld. CIT(A)"), National Faceless Appeal Centre, (in short "NFAC"), Delhi in Order No. ITBA/NFAC/S/250/2022-23/1049433205(1)....

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....d.CIT(A) ought not to have upheld the addition on account of interest income of Rs. 3,26,150/-. It is already disclosed in books of accounts. It is, therefore, prayed that the addition of Rs. 3,26,150/- upheld by the NFAC CIT(A) may kindly be deleted. " 3. The brief facts of the case are that the assessee is engaged in the business of Milk Procurement, Milk Processing and sale of Milk ....

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....e booked the interest income. However, during the course of assessment, the Assessing Officer took into consideration only one general ledger (interest received - other bank), however, the Assessing Officer failed to consider interest income which has been booked by the assessee in the other ledgers relating to interest income maintained by the assessee. However, the said application was rejected ....

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....ficer, wherein it was pointed out that interest income amounting to Rs. 2,07,007/- has also been booked in the General Ledger in Interest Income - Others. Copy of the ledger was also submitted before the Assessing Officer for his perusal. It was submitted that if the interest income is added to the income of the assessee, it would clearly amount to double taxation. Further, our attention was drawn....