The Tax Publishers2020 TaxPub(DT) 5219 (Bang-Trib)

INCOME TAX ACT, 1961

Section 143(3)

Unless and until AO rejected Revised Return on the basis of discrepancies in Books of Account, it was not possible to make addition towards difference between income declared in original return and revised return.

Assessment - Addition to income - Difference between income in original return and revised return - Non-rejection of books by AO

Assessee filed original return of income based on unaudited accounts within the due date of filing, i.e., on 30-9-2008. Later, assessee filed revised return of income on 1-4-2009 on the basis of audited books of account which was within the due date prescribed under section 139(5). AO made additions towards difference between income in original return and revised return. Assessee contended that AO could not consider income declared in original return based on the unaudited books of account over the income declared in revised return based on audited books of account. Held: Unless and until AO rejected Revised Return on the basis of discrepancies in Books of Account it was not possible to make such addition. If there was any defect in Books of Account he could specifically point out the same and make specific addition. Being so, when Books of Account were duly audited and approved by AGM, assessment was to be completed on the basis of Revised Return. There was no scope of taking difference in income declared in the original return and revised return as additional income of the assessee.

REFERRED :

FAVOUR : In assesee's favour.

A.Y. : 2008-09


INCOME TAX ACT, 1961

Section 37(1) Section 32(1)

SUBSCRIBE TaxPublishers.inSUBSCRIBE FOR FULL CONTENT

TaxPublishers.in

'Kedarnath', 7, Avadh Vihar, Near Nirali Dhani,

Chopasni Road

Jodhpur - 342 008 (Rajasthan) INDIA

Phones : 9785602619 (11 am - 5 pm)

E-Mail : mail@taxpublishers.in / mail.taxpublishers@gmail.com