ITAT has upheld the order of CIT(A) citing that AO is not permitted to make the addition without rejecting the books of account

Last updated: 20 January 2021

Court :
ITAT Visakhapatnam

Brief :
These appeals by the Revenue and the cross objections by the assessee are directed against the separate orders of Commissioner of Income Tax (Appeals)-3,Visakhapatnam,both dated 30/06/2020 for the Assessment Years2016-17& 2017-18. Since facts and the issues are common, the appeals are clubbed and heard together and disposed of by way of this consolidated order.

Citation :
ITA 182/VIZ/2020

IN THE INCOME TAX APPELLATE TRIBUNAL
VISAKHAPATNAM BENCH, VISAKHAPATNAM
(Through web-based video conferencing platform)

BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER &
SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER

I.T.A.Nos.181 & 182/VIZ/2020
(Asst. Years: 2016-17& 2017-18)

The ACIT, Central Circle-2, Guntur.
(Appellant)

vs.

M/s. Deccan Jewellers Pvt. Ltd., D.No. 27-16-65, Besant Road, Governorpet, Vijayawada.
PAN No. AACCD 1524 H
(Respondent)

C.O.Nos. 16 & 17/VIZ/2020
(Arising out of I.T.A. Nos. 181 & 182/VIZ/2020)
(Asst. Years :2016-17 & 2017-18)

M/s. Deccan Jewellers Pvt. Ltd., D.No. 27-16-65, Besant Road, Governorpet, Vijayawada.
(Applicant)

vs.

The ACIT, Central Circle-2, Guntur.
PAN No. AACCD 1524 H
(Respondent)

Assessee by : Shri M.V. Prasad, CA.
Department By : Shri D.K. Sonawal, CIT-DR

Date of hearing : 26/11/2020.
Date of pronouncement : 23/12/2020.

O R D E R

PER BENCH:

These appeals by the Revenue and the cross objections by the assessee are directed against the separate orders of Commissioner of Income Tax (Appeals)-3,Visakhapatnam,both dated 30/06/2020 for the Assessment Years2016-17& 2017-18. Since facts and the issues are common, the appeals are clubbed and heard together and disposed of by way of this consolidated order.

2. All the grounds of appeal related to the income estimated by the AO which was deleted by the ld. CIT(A).

3. Brief facts of the case are that the assessee is engaged in jewellery business. A search operation u/sec. 132 was carried out in the group cases of M/s. Deccan Jewellers Pvt. Ltd., on 20/09/2016. The assessments involved are 2016-17 and 2017-18.

To know more in details find the attachment file