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2019 (12) TMI 1113 - ITAT KOLKATAUnexplained cash credit u/s 68 - sale of agricultural crops - HELD THAT:- ITO found the nature of Business of assessee as 'Trading of green tea leaf and production of green tea leaf and other agricultural products." Total sale receipt from the agriculture crops was ₹ 25,50,349/-, out of which payment amounting ₹ 11,21,439/- received through bank, a copy of ledger account attached in page 47 of PB. The ld DR however, reiterated the stand taken by the AO. The assessee has submitted these all significant evidences during the appellate proceedings. Neither the AO nor the CIT(A) disputed the fact that the assessee is not owner of land. Considering this factual position, we delete the addition of ₹ 14,28,910/-. Bogus sundry creditors - During the course of scrutiny proceedings, the A/R gave the name and address of eleven sundry creditors. The sundry creditors are linked with purchases done by assessee. We note that assessee`s purchases were not doubted by the assessing officer. Assessee`s books of accounts are audited by a chartered accountant. Books of accounts of the assessee has not been rejected by assessing officer. Once the transaction gets completed, it may happen that the creditor may not cooperate in income tax proceedings and does not respond to notice under section 133(6) of the Act issued by AO during scrutiny assessment. The assessee submitted before the bench that brought forward balance of ₹ 41,84,399/- relates to assessment year 2012-13 and AO had already examined them in the assessment proceedings for A.Y.2012-13, therefore, these should not be treated bogus sundry creditors. In assessee`s case some of the creditors also replied the notice under section 133(6) of the Act. The ld DR for the Revenue did not doubt the factual position narrated above. Considering the entirety of the facts and circumstances of the case, we delete the addition - Decided in favour of assessee.
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