No Addition on the basis of AIR Information if figures are Not Real – CIT, Mumbai Vs. Deloitte Touche Tohmatsu India Pvt Ltd
Case Law Update – CIT, Mumbai Vs. Deloitte Touche Tohmatsu India Pvt Ltd
No addition can be made on the basis of AIR information where the figures shown in it, in reality, do not represent assessee’s income: ITAT, Mumbai
Date of Order: 27.04.2018
It is evident, the Assessing Officer has accepted the fact that the assessee has partly reconciled the AIR information with its books of account. The Assessing Officer without making any independent enquiry to ascertain the correct fact has made the addition simply relying upon the AIR information. The judicial precedents cited before us also lay down the proposition that only on the basis of AIR information no addition can be made.