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2017 (12) TMI 120 - AT - Income TaxUnexplained sundry creditors - Held that:- The difference in the sundry creditors worked out by the Ld.CIT(A) and the assessing officer was neither reconciled nor explained by the Ld.DR. there was difference in the quantum. The CIT(A) worked out the difference at ₹ 3,32,11,900/- whereas as per AO it worked out to ₹ 2,78,36,901/-. Purchase of capital goods was first taken up by the assessee before CIT(A) but the same was not explained before the AO and not considered by the AO. All the above difference and issues required to be verified from the assessee’s books of accounts and to be cross verified from the creditors books of accounts which exercise was not done by the AO because of non cooperation from the assessee. Therefore, we are of the considered opinion that the entire issue needs to be remitted back to the file of AO to make the detailed verification and decide the issue a fresh on merits. Accordingly we remit the matter back to the file of the AO with a direction to examine the entire issue and consider the issue afresh on merits. Estimation of income and the additions u/s 41(1) - Held that:- We have set aside the order of the CIT(A) Since the issue with regard to the estimation of income is interlinked with the addition made by the AO u/s 41(1), we are of the considered opinion that the estimation of income also required to be remitted back to the file of the AO and decide the issue afresh on merits after considering the submissions made by the assessee. Accordingly, we remit the entire assessment to the file of the AO for denovo consideration.
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