that learned CIT(A) erred in not
providing telescoping benefit in respect of addition of unexplained investments
in Mutha House when already the assessee ... addition needs to be restricted to the same and
further benefit of telescoping needs to be allowed.
10 Another issue raised is that Learned Commissioner
income assessable for this year would stand to be telescoped against the income
assessed for the following year ... plea that,
even so, it would stand to be allowed telescoping benefit is, in principle, equally
valid in-as-much as there
erred in
law and on facts in granting relief in respect of telescoping of income benefit
amounting ... items and huge difference in figures was only due to telescoping effect and
submitted a cash flow contending that he had included entire unaccounted
transaction
held that the appellant is allowed to
claim telescopic effect of the additions made and the appellant be
granted consequential relief in accordance with ... profits from unaccounted business activities. The
ld. AR prayed that the telescopic effect of the cash declared may be given to
the assessee against addition
used for
concealment of other prohibited and undeclared items like
firework and telescopic channels. The contents of all the 4
containers as found after examination ... Carbonate 15000
Gogo fireworks K0201 (made in China) 6248
1. BLJU 2750023 Telescopic Channels 12 inch Vega Mark 1224.60
Telescopic Channels 20 inch Vega Mark
books of account. M/s Spaze Towers Pvt Ltd. claimed
telescoping of expenses of Rs. 16.43 crores incurred by it towards
personal expenses ... crores on account
7
of bogus purchases and allowed the benefit of telescoping of personal
expenses of promoters/directors aggregating to Rs. 16.43 crores
income. The assessee also
claimed to adjust the same out of the telescoping effect against the payment to
the farmers.
23.1 However, the AO disagreed ... learned CIT (A) also requested to provide the
benefit of the telescoping of the income admitted by him on account of
commission
that it contained notings of sale
of gold. Granting the benefit of telescoping against the addition made on account of
unexplained investment in gold ... upheld, then the
assessee ought to be granted the benefit of telescoping such estimated profit against the
addition, if any, upheld on account of unexplained
lacs in each of these six
years and by granting telescoping of that addition, other additions were deleted by him
but now we are deleting ... basis of statement u/s 132 (4) and as a consequence, no telescoping is
available and therefore, we have to examine and decide about sustainability
appeal for the A.Y. 2010-11 seeking the benefit of
telescoping. The ld. DR did not raise any serious objection to the
admission ... addition of Rs.2.00 crore and then
allowing the benefit of telescoping to the extent of available
undisclosed income already taxed. Following the same
