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| The Tax Publishers2020 TaxPub(DT) 3676 (Bang-Trib) INCOME TAX ACT, 1961
Section 143(3) Section 44AD
Admittedly, there was difference in turnover declared by assessee and the turnover declared in Form 26AS and part of business turnover of assessee, differential amount was included in total turnover of assessee and income of 8% was to be estimated on it. Accordingly, entire undisclosed turnover of Rs. 5 lakhs could not be considered as income of assessee.
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Assessment - Addition to income - Difference between declared turnover and turnover as per Form 26AS - AO treated entire amount as undisclosed turnover though assessee having declared income under section 44AD
Assessee declared income of Rs. 8,46,017 under section 44AD. AO noticed that there was a difference between turnover declared by assessee and turnover declared in Form 26AS at Rs. 5 lakhs on account of this, AO made addition of Rs. 5 lakhs. Held: Admittedly, there was difference in turnover declared by assessee and the turnover declared in Form 26AS and part of business turnover of assessee, differential amount was included in total turnover of assessee and income of 8% was to be estimated on it. Accordingly, entire undisclosed turnover of Rs. 5 lakhs could not be considered as income of assessee.
REFERRED :
FAVOUR : Partly in assessee's favour.
A.Y. : 2013-14
INCOME TAX ACT, 1961
Section 68 Section 44AD
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