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
grossly erred in sustaining the addition of Rs.1,25,105/-
[though telescoped from addition sustained on account of profit
on unaccounted sales] on account ... grossly erred in making the addition of Rs.61,873/- [though
telescoped from addition sustained on account of profit on
unaccounted sales] on account
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
ground nos. 5, 6, 7 and additional ground is regarding not allowing telescoping benefit
by the AO or by the CIT(A) in respect ... made in shops against
income from social club, not giving benefit of telescoping as income on account of cash
discrepancies, not giving benefit of telescoping
account of unexplained jewellery, by giving
telescopic benefit, without appreciating the fact that the company and the
Director are two separate entities and therefore benefit ... account of unexplained jewellery, by giving
telescopic benefit, without appreciating the fact that during the course of
search, no loose paper/documents indicating any flow
same was declared on application basis. The
assessee claimed the benefit of telescopic in application of funds for the
assessment year under appeal ... Appeals) accepted the contention of the
assessee and allowed the benefit of telescopic and deleted the addition.
3
ITA No. 899/PUN/2015
Jawahar B. Purohit, Mumbai vs Asst Cit Cen Cir 22Xc, Mumbai on 20 September, 2017
Supreme
Court has held that there cannot be telescoping
of unfilled seats of one year with permitted seats
of the subsequent year i.e. carry ... cannot be direction for increase
of seats, and
(ii) There cannot be telescoping of unfilled seats
of one year with permitted seats of the
subsequent
Dilip Shah, Mumbai vs Dcit Cen Cir 11, Mumbai on 25 September, 2017
1
Dilip
reasons discussed in para 9.2, it is
reasonable to allow benefit of telescoping between the addition for profit
from unaccounted transactions and unexplained investment ... land, SB a/c
and fixed deposit on the basis of telescoping.
58. The assessee in the year under consideration has shown drawing for
personal
