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2017 (8) TMI 228 - AT - Income TaxRevision u/s 263 - Payment made to M/s. Tahir Engineering Works - Held that:- In appeal before the ld CIT it has been categorically held by the ld CIT in his order dated 04.08.2015 that the addition made by the AO merely on the basis of conjectures and surmises. He held so because of the reason that the assessee has got job work done through M/s. Tahir Engineering Works for ₹ 620000/-. The assessee submitted the complete details with respect to payment made to M/s.Tahir Engineering Works for ₹ 620000/- with exhaustive details and therefore the addition was deleted. The ld DR could not confront the fact that the order of CIT has not been further agitated before higher forum by the revenue. Hence on this ground it cannot be said that order of the AO is erroneous and prejudicial to the interest of the assessee. Addition u/s 68 - lack of enquiry v/s no enquiry - Held that:- As found that before the ld AO the assessee filed the confirmation of the Modern Chemicals stating PAN, amount of outstanding as on 31.03.2008 of ₹ 1367088/-. Such confirmation is placed at Page 138 of the Paper Book dated 02.06.2010 identically with M/s. Paswara Chemicals Ltd also the assessee submitted the confirmation stating its PAN No. Therefore there is definitely an inquiry made by the ld AO with respect to outstanding creditors. Therefore it cannot be said that it is a case of no enquiry by the AO and further when the confirmation is filed the AO has not asked for the account of that particular party, therefore, it can be said to be a case of inadequate enquiry but not at all a case of no enquiry. Decided in favour of assessee.
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