2025 (9) TMI 700

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....nder:- "1. The Learned Deputy Director of Income Tax, CPC, Bengaluru, erred in making an addition of Rs. 29,33,84,364/- to Income from Business /profession as income deemed to be chargeable to tax u/s 41 of Income Tax Act, 1961 without considering the fact that the aforesaid amount is credited to the profit and loss a/c and thus already offered to tax by assessee. 2. The Learned Deputy Director of Income Tax, CPC, Bengaluru, erred in making an addition of Rs. 10,25,78,417/- to Income from Business /profession as inconsistency between gratuity amount disallowable under section 43B claimed in income tax return and tax audit report without considering the fact that amount claimed in income tax return includes gratuity amount ....

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....51.89. The bifurcation of which is as under: Break-up of Other income (Note 23 of Annual Report) Particulars Total Excess Provision of earlier years -37,35,68,513 Miscellaneous Income -48,42,78,548 GST Recovery from vendors -4122 Sundry Balance written off 10099743 Sundry Balance written back -293384634 Grand Total -1141135804 10. From the above, it can be seen that the assessee has added back Rs. 29,33,84,364/- which is part of its other operating revenue as mentioned above. 11. Since this fact has missed the sight of CPC, the AO is directed to examine the same and decide the issue afresh as per the relevant provisions of law. 12. Ground No.1 is allowed for statistical purposes. 13. ....

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....AS 116 Impact) 49,39,77,073 4 Donation 1,70,420 Fines & Penalties (Annexure 3) 94,44,306 6 Disallowance u/s 40(a)(ia) (Annexure 4) 84,49,940 7 Software expenses for the FY 2021-22 revenuised in the financial 1,96,04,984 accounts, capitalised for the purpose of Income tax return, (Annexure 5) Interest on delayed deduction of TDS paid to income tax authorities 73,114 (Annexure 6) 9 Income not accounted/accounted net of TDS in the FY 2021-22 (Annexure 4,07,785 7) 10 Disallowance towards 438 (Annexure 8) 1,43,72,739 11 Profit on sale of R & D asset 74,241 12 Disallowance u/s. 14A (Annexure 9) 7,11,676 13 CSR expenditure 70,76,65,575 14 CSR expenditure overheads expensed out in respective expe....

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....act) 2,34,49,87,667 5 Employee Expense (Annexure -2) (INDAS 116 Impact) 84,44,553 HP "CERTIFIED TO BE TRUE COPY Document 2 16,94,960 3,65.13,389 Initial Direct Cost reversal (Annexure -2) (INDAS 115 Impact) 24,83,79,073 Interest on security deposit (Annexure -2) (INDAS 116 Impact) 7 51,24,76,112 Profit on sale of Long term Investments (Net) 5,08,58,124 Profit on sale of Short term Investments (Net) . 4.73.669 10 Interest on Tax free bonds Foreign exchange gain for the FY 2021-22 revenuised in the financial 11 accounts, capitalised for the purpose of Income tax return, (Net) 4,01,41,32,008 12 Depreciation ui's 32 (Annexure 16) 1,94,63,226 Deduction under section 35 (1)(v....

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.... 35,91.36,977 Long Term Capital Gain (D ) 44,37.51.22.587 GROSS TOTAL INCOME (A+B+C+D) Less: DEDUCTIONS under Chapter VI A 30,51,777 UIS 80 JJAA (Annesure -20) 27,34,99,438 UIS BOM (Annexure 15) 44,09,86 74,372 Total Taxable Income 44,09,85,71.372 Rounded off to Rs. 11,00,83,40,848 43,73,94,34,395 Tax payable @@ 25.17% (including education cess & surcharge) Tax payable @ 17.16% (including education cess) on Foreign Dividend Income 35,91,36,977 8.21,70,539 Tax payable @ 22.88% (including education cess) on LTCG Total Tax Payable 44,09.85.71,372 11,09,05. 11 387 Less: IDS Credits HP CERTIFIEDTOSET. Document 3 3 Tax deducted & collected at Source (Annexure -21 & Annexure - 2....