Additions based on P&L account & B/S filed by assessee with return cannot be considered as additions on the basis of new income source

S.D. Traders Vs CIT (Allahabad High Court)

It has been argued by the counsel for the Revenue that CIT (A) has not travelled beyond the books of accounts and during appeal it was found that only confirmation was available of five parties and the rest of the creditors were untraceable, hence the addition of the amount was made which were part of the books of account. Likewise, the addition made as far as the labour charges are concerned was also on the basis of the books of account submitted by the assessee as such, it cannot

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