Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (6) TMI 660 - AT - Income TaxNon existent/bogus liability - CIT(A) confirmed additions - Held that:- As appellant had not proved this liability with any evidence for genuineness the order of the CIT(A) confirmed - against assessee. Non existent/bogus liability - CIT(A) confirmed additions - notice on the party was returned unserved by the postal authority with a remark 'not known' - Held that:- As assessee has purchased computer cartage for the business purposes vide bill no.20, dated 23.08.2004 and bill no.28, dated 09.10.2004 and payments were made through bank account of the assessee company, therefore, genuineness of the transaction had been proved by the appellant. In favour of assessee. Unexplained difference in accounts - Held that:- Considering evidences furnished by the appellant which shows that as per assessee's books account, the liability as on 31.03.2005 has been shown at Rs.6,93,220/- and in the books of M/s. Bhavin Industries at Rs.7,54,800/-. Similarly creditor in the name of M/s. Colourtex P. Ltd. in the assessee's book has been shown at Rs.13,04,340/- whereas in the books of account of in case of M/s. Colourtex P. Ltd. the creditors of the assessee has been shown at Rs.14,23,994/-. The appellant had not filed any re-conciliation before the lower authorities as well as before us. Therefore order of the CIT(A) confirmed - assessee's appeal is dismissed. Disallowance @ 10% by CIT(A) out of 25% on account of telephone, conveyance and miscellaneous expenses - Held that:- As CIT(A) restricted this addition @ 10% the decision of CIT(A) is confirmed - assessee's appeal is dismissed.
|