Sudhir Dayalal Mistry Vs ACIT (ITAT Mumbai)
ITAT Mumbai held that no addition can be made on account of sales simply based on difference in the figure in Form 26AS and the sales disclosed by the assessee in the audited accounts [P&L] since difference is due to double deduction of TDS on various accounts. Accordingly, addition is deleted.
Facts- The present appeal is preferred by the assessee. Notably, assessee has challenged the addition of Rs.54,39,870/- on account of alleged difference received from the contracts on the basis of entries in Form 26AS.
Conclusion- Held that in any case from the bare perusal of Form 26AS there are multiple deduction appearing in the amount of Rs.54,39,879/-. For instance, there was double deduction of TDS for Rs.45,66,264/- once as part of Rs.53,41,695/- and again independently on 19/03/2012. There are other double deduction of TDS which has been explained in the aforesaid chart. All these explanation and re-conciliation was given before the ld. CIT(A). Accordingly, we do not find any reason to remand this matter back to the file of the ld. AO as no new material has been brought on record that re-conciliation is given before the ld. AO and ld. CIT(A) is factually incorrect. Accordingly, we hold that no addition can be made on account of sales simply based on difference in the figure in Form 26AS and the sales disclosed by the assessee in the audited accounts because the other party i.e. WHL has deducted TDS on interim bill as well as final bill and there are double deduction of TDS on various accounts. Thus, the addition made by the ld. AO is deleted.
