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2018 (1) TMI 1678 - AT - Income TaxAddition of advance received for supply of goods as bogus trading liability - HELD THAT:- Advance was shown as liability received by the assessee from M/s. Aditya Renewable Resources. On perusal of account of the party in the books of the assessee, it was found that ₹ 27,49,796/- has been accumulated by receiving four cheques has been considered and the invoice was raised in the financial year 2009-2010 relevant to assessment year 2010-2011. To substantiate, ld A.R. submitted the paper book disclosing copy of invoice and the calculation of the stock with documents. We are of the considered view that the assessee should be provided an opportunity to explain the details alongwith statements filed before us and the Assessing Officer has to verify whether the assessee has raised sales bills in the assessment year 2010-2011 and pass the order on merits. The Assessing Officer is directed to afford proper opportunity of hearing to the assessee before adjudicating the issue afresh. Addition as suppressed sales - HELD THAT:- Addition being suppressed sales is also restored to the file of the Assessing officer with the same direction as give above. This issue is also allowed for statistical purposes
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