entries recorded in
the regular books of account have to be telescoped with entries recorded in the
'Dasti Bahi'. Learned CIT(A), therefore ... justified in allowing the telescoping
of the addition made on the basis of peak credits of the entries recorded in the
regular books of account
Commissioner of Income Tax (Appeals) erred in giving the
telescopic benefit to the assessee as the assessee made voluntary
disclosures based on incriminating material detected ... allowing the
amount of Rs.2,53,59,490/- by way of telescopic benefit as the assessee
had made the disclosure without any force
these grounds are that
whether the assessee is entitled for benefit of telescoping the commission
income with the income declared in the return ... another plea made by the assessee seeking for
benefit of telescoping, the income declared by the assessee in the return,
5
ITA No.3646
Page 2 of 10
damages for unauthorised occupation of Railway accommodation at
telescopic penal charges will be applicable from 1st September, 2018; (xii)
however ... thereof; (xv) on 5th February, 2020, the
petitioner applied for waiver of telescopic penal charges on the ground that
the petitioner at Gorakhpur
additions made u/s 40(a)(ia) of the Act
too. No telescopic benefit is allowed against the said undisclosed income ... ground no 1, by not giving benefit of setoff
(telescoping) against total estimated income and as such ignored provision of law
and judicial decisions
Learned Commissioner of
Income Tax (A) ought to have allowed the telescoping benefit against
the addition made ... assessee also made an alternate submission
though ground No.4 for providing telescopic benefit of Rs.12.50 lacs
submitting as follows:
"Additional Ground
Appeals has erred in law and on facts in not allowing
telescoping of cash in hand ... assessee thus has laid
emphasis on the telescoping benefit without explaining the cash found.
Thereafter, at Para 8.4, the Ld. CIT(Appeals) held as follows
unaccounted income by restricting addition to Rs.72,000/ by
applying the telescoping with respect to addition sustained of Rs.86.44
lakhs on account ... deleted. However, since the assessee has claimed that
telescoping should be allowed with respect to addition sustained in Ground
No. 1 above
ERROR IN THE ORDER OF THE AO IN ALLOWING
TELESCOPING OF UNDISCLOSED CASH RECEIPTS OF RS.
6,21,25,115 FROM UNDISCLOSED HUNDI LOANS ... revised cash
receipts to Rs. 6,21,25,1151- and claimed telescoping of this amount
against Hundi Loans. So the amount offered was
(a) Cash
income was available as
on 31.03.2012 with the assessee, the benefit of telescoping the
addition of undisclosed income against the addition towards
unexplained investment cannot ... assessee and the second issue revolves around
whether or not benefit of telescoping can be allowed in respect of
addition of undisclosed income against addition
