This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No addition for suppressed receipts in case AO failed to consider revised return of income
Case Law Details
- Case Name
- IDBI Capital Markets & Securities Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
IDBI Capital Markets & Securities Ltd. Vs DCIT (ITAT Mumbai)
Conclusion: Since AO had not considered revised return of income which was filed within prescribed period of limitation for the difference between income disclosed in return and total receipts as per Form 26AS, therefore, the matter was remanded back to AO with direction to verify the fact and grant relief to assessee in accordance with law.
Held: AO took his view that income disclosed by assessee as per return of income was ₹ 38.04 crore; whereas the total receipt as per Form 26AS was ₹ 54.14 crore and the difference of two...
