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Difference between books & Form 26AS: Only embedded profit can be added to income
Case Law Details
- Case Name
- Purna Chandra Rout Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Purna Chandra Rout Vs ITO (ITAT Delhi)
In case of the difference between the Assessee’s books of account and as per Form No. 26AS, then on the said difference, only embedded portion of the profits is to be taken into consideration and the addition is to be made thereon but entire turnover cannot be added to the income of the Assessee.
FULL TEXT OF THE ORDER OF ITAT DELHI
1. The present appeal has been preferred by the Assessee against the order dated 28.01.2017 impugned herein passed by the Ld. CIT(A)-18, New Delhi (in short “Commissioner”) u/s 250(6) of the...
