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2018 (11) TMI 1059 - HC - Income TaxAddition on account of unexplained trade creditors and expenses - Held that:- CIT (Appeals) had examined the evidence and material produced to establish and show identity, nature and genuineness of the expenditure. In respect of four parties, namely, Jyoti Metal (India), M/s Steam Radiators Corp, M/s Committed Cargo Care Private Limited, M/s Nova Home Appliances Private Limited and M/s Chetra Trading LLC, no confirmations were filed during the course of the assessment proceedings and in the appellate proceedings. Contention of the Revenue that the AO was not allowed any opportunity to counter the claim of the assessee during the proceedings before the first appellate authority was rejected, observing that transactions were examined in the next year and were ascertained and found to be genuine and with known parties. Thus, failure to seek remand report of the assessing officer, who had in the next year examined the same issue and had on verification accepted genuineness of the expenditure, would not warrant interference. Revenue has not filed copy of the AO for the Assessment Year 2011-12. Papers or documents which were filed before the CIT (Appeals) or the Tribunal have also not been filed. In the absence of said papers/documents and in view of the factual findings recorded by the CIT (Appeals) and also noticing the short order passed by the assessing officer, we are not inclined to interfere with the factual findings.
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