accounting principle. The Assessing Officer should have granted the
benefit of telescoping to the assessee in respect of above additions. The
Commissioner of Income ... assessee by the directing the Assessing Officer to give the benefit of
telescoping while computing penalty. Against, the findings of
Commissioner of Income Tax (Appeals
first, as the other additions have been telescoped by the assessing officer into this addition. Brief facts are that during search, 37 sealed samples
transactions were in the mode of cash therefore no set off or
telescoping could be allowed /given to the assessee.
2. The Appellant prays
business". However, the
CIT(Appeals) directed the Assessing Officer to give telescoping to
the extent of `32,40,977/- towards addition made under ... according to the Ld. D.R., it cannot be set off or
telescoped against the income from business. In the cash flow
statement filed
learned CIT(A) grossly erred in not giving the benefit of
telescoping to the appellant in respect of the alleged payment against the alleged
receipts ... Syndicate, the learned CIT(A) grossly
erred in not granting benefit of telescoping to the appellant in respect of the
alleged unexplained investment against
Alternatively and without prejudice to above,
the action for not allowing telescoping of addition on
account of u/s. 69A , u/s. 69C & commission ... this account is to be made
then assessee is entitled to telescoping against addition
made on account of Bogus purchases which is treated as
undisclosed
giving any specific finding in his Order for grant of
benefit of telescoping to the appellant in respect of the estimated net
2
Kantilal Kataria ... both on facts and in law, in not allowing the benefit
of telescoping to the appellant in respect of advances made to Mr.
Rahul against
case and in
law, the LdCIT(A) has erred in not allowing telescoping / offsetting of the alleged unexplained
expenses / investment against the items treated ... income of the assessee
separately. As such only profit element as per telescoping should be taxed. The
assesse accordingly submitted the working of the telescoping
assessee has
been granted the benefit of calculation of peak balance
and telescoping thereof in the manner discussed above.
Keeping the said decision in view ... peak credit of Rs.1,82,59,348/-
as on 10.04.2004 as telescope for the maximum peak
balance of earlier years
that during search in presence of witnesses, a bullet
proof jacket, four telescopic rifles sight devices, one night vision
device, two walky talky, rifle cleaner ... they are;
M. Ext. - I Night Vision Device
M. Ext. - II Telescopic night device
M. Ext. - III to III/2 Three telescopic night devices
