Non Confirmation from Debtors/creditors
This query is : Resolved
14 December 2010
Dear all,
One of my clent is unable to provide confirmations from all debtors and creditors.AO wishes to add difference amount in the income. He is asking why difference in confirmations of parties and amount of parties (creditors)from whom no confirmation has been filed should not be added in the income of assess.
What should be the best reply for his question.?
Is there any case law stating that no addition shall be made on the basis of difference in confirmations from parties.
thanks
Aajay
One of my clent is unable to provide confirmations from all debtors and creditors.AO wishes to add difference amount in the income. He is asking why difference in confirmations of parties and amount of parties (creditors)from whom no confirmation has been filed should not be added in the income of assess.
What should be the best reply for his question.?
Is there any case law stating that no addition shall be made on the basis of difference in confirmations from parties.
thanks
Aajay
15 December 2010
Balance confirmation from all the parties is not required, AO cannot force for confirmation. If you are submitting audited books that is enough. You jsut produce your compnay policy in this regard, that we take the confirmation above the limit and as per this you have issued the letter to all of them.
15 December 2010
Sir,
You give your mail id I will tell a idea.
alsivasankar@gmail.com
You give your mail id I will tell a idea.
alsivasankar@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
