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2021 (2) TMI 1310 - ITAT SURATAddition on account of unsecured loan - HELD THAT:- We have gone through the detailed findings of ld CIT(A) and noticed that assessee has failed to produce books of accounts, vouchers, bills and Bank Statements before the assessing officer as well as before ld CIT(A). The Ld Counsel in his written submissions stated that if a chartered Accountant gives unqualified certificate in the prescribed form then in that situation books of accounts, voucher, bills, bank statements etc should not be called for either in the case of public company or in the case of private companies where the accounts have been audited by an auditor qualified to audit a public company's account and he has given a certificate, similar to that given in the case of a public company. We do not agree with ld Counsel. The purpose of scrutiny assessment under section 143(3) is to examine, books of accounts, voucher, bills, bank statements etc. That is, in order to verify the unsecured loan, octroi expenses and advances, the assessing officer has to examine books of accounts, voucher, bills, bank statements, confirmations etc. which the assessee has failed to produce before us. The argument of the ld Counsel to the effect that if the assessee submits audit report then in that situation, the assessee need not to furnish books of accounts, voucher, bills, bank statements, confirmations etc. is not acceptable. We have gone through the order of the CIT (Appeals) and noticed that the Assessee has not submitted any evidence or documents during the appellate proceedings in respect of loans, advances and expenses. Therefore, we do not find any infirmity in the order of CIT (Appeals). We decline to interfere in the order of ld. CIT (Appeals). His order on this issue is hereby upheld and grounds of appeal raised by the assessee is dismissed.
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