No addition for suppressed receipts in case AO failed to consider revised return of income

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...