2024 (9) TMI 1187

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.... filed by same assessee and issues raised in the appeals are similar based on the same identical facts, with the consent of the both the parties, we proceed to hear both the appeals together and pass consolidated order for the sake of convenience. 3. We shall take up appeal in ITA No. 267/Chny/2024 for AY 2015-16. 4. Ground No. 1 is general in nature and requires no adjudication. 5. Ground Nos. 2 & 3 raised by the assessee questioning the order of the ld. CIT(A) in confirming the view of the Assessing Officer in treating the revised return of income as invalid. 6. The ld. AR Shri S. Sridhar, Advocate submits that the assessee filed return of income declaring a total income of Rs..4,41,480/- on 29.09.2015 under section 139(1) of ....

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....ion 143(2) of the Act but while making the addition i.e., difference in cash as unexplained based on the revised return, but treated the said revised return of income as invalid. 7. The ld. DR Ms. R. Anita, Addl. CIT relied on the order of the ld. CIT(A). 8. Heard both the parties and perused the materials available on record. Admittedly, the assessee filed revised return of income in view of the survey on 17.03.2017, wherein, he admitted the same income as declared in the original return of income filed under section 139(1) of the Act. There is no doubt regarding the issuance of notice under section 143(2) of the Act by the Assessing Officer in response to the revised return of income and made disallowance under section 68 of the Act....

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....as admitted in the original return of income, but, only with a deviation of showing sales and cash on hand. According to the Assessing Officer, the assessee considerably increased the sales and reduced closing stock, thereby to show increased cash on hand, claiming the same as deposit of cash in bank. Further we note that the Assessing Officer observed that the assessee appeared and produced books of account with all relevant documents. The Assessing Officer, considering the difference of sales/turnover and closing stock as per the original return of income and revised return of income, held an amount of Rs..1,17,85,027/- was added. The ld. CIT(A) confirmed the order of the Assessing Officer. 14. The ld. AR drew our attention to the orde....