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
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
addition to the extent
treating the aggregate deposits appearing in the bank telescoped by CIT(A)]
accounts as unexplained credit deposits while
ignoring the rest ... this addition to be
during the course of search, albeit after giving telescoped against the
telescoping of the same against the corresponding corresponding income.
income
addition an this account has been
made then assessee entitled to telescoping against
addition made of Bogus purchases as undisclosed
income of assessee. Further, submitted ... that if
telescoping of income was not given than there will be
double addition in as much as both the undisclosed
income and the investment
account of bogus Long Term Capital Gain (LTCG) by allowing set off /
telescoping of undisclosed income in the hands of DRAIPL ... that view
of the matter the Ld. CIT(A) has rightly allowed telescoping and the claim of
set off by the assessee. He, therefore, relies
balance of addition,
the ld. CIT(A) granted relief giving benefit of telescoping the cash
generated by M/s. BNC Power Projects Ltd. on account ... ought not to have granted the
benefit of telescoping of addition of Rs.84,12,007/- made in the
hands of M/s. BNC Power
filed on 26.04.2022, through this additional GOA
assessee asked the benefit of telescoping of the receipts and payments as indicated
in the seized material ... existing fund as recorded in the seized document and benefit of telescoping is to be
allowed to the appellant.
5) The Hon'ble Bench
also called upon him to
pay the damages computed at Telescopic rates w.e.f.
01.07.2016 as per OM dated 07.09.2016. The
representation dated ... appellant has also challenged the quantum of damages
by following the telescopic method. It is submitted that the
existence of OM dated 07.09.2016 imposing Telescopic
without prejudice, Id. CIT(A) ought to have granted benefit of
telescoping while confirming various additions.
9. Both the power authorities have passed the orders ... such, the learned AR before us prayed to grant the benefit of telescoping if any.
30. On the other hand, the learned DR opposed
