Pawan Singhal (chartered accountant) (655 Points)
02 April 2010assesse shown net intrest income in profit and loss a/c after debiting interest exp. so ito made a addition on the ground that tds is more deducted then shown intrest income in p&l a/c.
interst income 51000
intrest exp 41000
tds deducted on income 5100
assessing officer make a addition of rs. 51000 not considering 41000.
so plz send me grounf of appeal and statement of fact.
Nicky
(Chartered Accountant)
(245 Points)
Replied 03 April 2010
Ground of Appeal:
On the facts and in the circumstances of the case and in law the learned assessing officer is erred in adding interest of Rs. 51,000/- as interest not offered to tax without appreciating the accounting treatment provided in the books of accounts. The appellant hereby prays that the addition may please be deleted
And for statement of facts you will need to sit down with assessment order.
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