TaxTMI 
TaxTMI 
2024 (8) TMI 1175
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....g the fact that the entire income as reported in Form 26AS is offered to tax by the appellant and hence question of taxing undisclosed income does not arise. 4. Without prejudice to the above, the learned CIT(A) erred in not directing the Assessing Officer ('AO') that if Rs. 10,75,12,135 is taxed on the basis that the corresponding TDS credit is claimed in the current assessment year, the same should not be taxed again in the earlier or subsequent assessment years, wherein it has been accounted and offered to tax by the appellant. Others 5. The learned CIT(A) has erred in not adjudicating on grounds of appeal number 3.1 to 3.6 as raised before the CIT(A). 5.1. The learned CIT(A) erred in not directing the AO to consider the current year business loss of Rs. 2,23,09,961/- as declared by the appellant in the return of income, while computing the assessed business income. 5.2. The learned CIT(A) erred in not directing the AO to not to adjust a sum of Rs. 1,92,09,526 as refund already issued and not to withdraw interest under section 244A as no such refund has been actually issued to the appellant. 5.3. The learned CIT(A) er....
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....ave considered the assessment order, written submissions filed by the Ld. AR of the appellant and also oral submissions made by the Ld. AR of the appellant. Ld. Assessing officer tabulated the total sales as per profit & loss account disclosed by the appellant and sales as per TDS Certificates furnished by the appellant. Total sales as per TDS Certificates (Form 26AS) comes to Rs. 56.92 crores. However, appellant has declared the sales as per profit & loss account Rs. 46.17 crores. Thus, there is a difference of Rs. 10.75 crores which Ld. Assessing officer has added in the total income of the appellant. With regard to reconciliation of receipt as per TDS certificates and P/L account, appellant simply filed a chart showing party wise details of gross receipts as per TDS Certificates and sales book by the assessee in the P/L account. It was noticed from the perusal of the said chart that in respect of certain parties, the receipts shown by the assessee in the P/L accounts were sort of the gross receipt as per TDS Certificates. The Ld. AR of the appellant pleaded during the appellate proceeding that appellant enters into an arrangement / contracts to provide services to the clients. H....
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....ding receipt in some other years. The taxes must be paid in the year in which it is due. The issue is continuously raised by the Ld. Assessing officer from the AY 07-08 onwards. In earlier years, Hon'ble ITAT has set-aside this issue to the Ld. Assessing officer to check the reconciliation filed by the Ld. AR of the appellant before the Ld. Assessing officer. However, for the 07-08 and 09-10, Ld. Assessing officer invoked the provision of section 199 and also considered the sub-rule 3 of 37BA of the I. T. Rules. After considering the orders of earlier years passed by the Hon'ble ITAT and also by the CIT(A), Ld. Assessing officer is directed to verify the charts submitted by the Ld. AR of the appellant during the assessment proceeding. The appellant is claiming the TDS however, not showing the corresponding receipt of the TDS in this year. This practice cannot be allowed and nowhere in the AS- 9, it is mentioned. After considering the accounting standard-9, I am of the view that appellant is not following the correct accounting standard. In view of these facts, Ld. Assessing officer is directed to verify the claim of the appellant and allow the TDS as per sub-rule 3....
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....g marketing services including consultancy for sales promotions, product exhibiting and organizing and arranging the launching of products and services by its clients. It has filed its return of income on 31.10.2007 and 29.9.2009 declaring an income of Rs. 15,02,170 and Rs. 55,38,482 in assessment years 2007-08 and 2009-10 respectively. In assessment year 2007-08, an assessment order was passed under sec. 143(3) on 18.12.2009 at an income of Rs. 882,86,720. The dispute traveled up to the level of ITAT. The ITAT has set aside the issue to the file of the Assessing Officer. The one of the issues set aside by the ITAT to the Assessing Officer pertains to grant of TDS. Learned Assessing Officer has made an addition of Rs. 167,14,582. This addition was made on the ground that assessee has declared lesser income in comparison to the TDS. In a set aside assessment, Assessing Officer did not give credit of TDS amounting to Rs. 29,76,191. The discussion made by the Assessing Officer reads as under: "5. The above submission of the assessee has been considered. From the above, it is clear that the assessee has claimed for TDS of Rs. 29,76,191 the corresponding income amounting to Rs.....