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2020 (4) TMI 333 - HC - Income TaxUnexplained expenditure under section 69C - allegation that, assessee had shown inward quantity of 142090 kilograms of wheat flour and 18340 kilograms of wheat flour was purchased from the open market and had not shown the purchase cost of 123750 kilograms of wheat flour - Commissioner (Appeals), who deleted the addition also confirmed by ITAT - HELD THAT:- Assessee along with the month-wise details of purchase and sale of wheat and wheat atta (flour) showed that the atta that was sold by the assessee was converted from the stock of wheat that was already available with it. Therefore, the purchase of stock of such atta was reflected in the wheat purchase account and not in the atta purchase account. The Commissioner (Appeals) noted that the assessee had submitted documentary evidence to demonstrate the same, which was found to be correct and it was seen that the quantity records and closing stock of wheat and atta confirms the explanation. Conclusion arrived at by the Tribunal is based upon concurrent findings of fact recorded after appreciating the material on record. The learned Senior Standing Counsel for the appellant is not in a position to point out any material to the contrary so as to dislodge the findings of fact recorded by the Tribunal nor has it been pointed out that the Tribunal has placed reliance upon any irrelevant material or that any relevant material has been ignored. Under the circumstances, the conclusion arrived at by the Tribunal being based upon a pure finding of fact recorded after appreciating evidence on record, in the absence of any perversity being pointed out in the findings of fact recorded by it, the said ground of appeal does not give rise to any question of law. Unexplained current liability - Commissioner (Appeals), who deleted the addition also confirmed by ITAT - HELD THAT:- The record of the case reveals that the assessee had been purchasing goods from GASPL and was also getting job work from them. The Assessing Officer called for the contra accounts of GASPL and compared them with corresponding accounts in the assessee’s books of account which showed a difference of ₹ 1,59,184/-. It appears that such difference was because of the fact that the assessee maintained two accounts of GASPL one in respect of job work and the other in respect of goods purchased, whereas GASPL kept only one account for both items. Such mistake in accounting on the part of GASPL was subsequently rectified by them by passing necessary entries. Thus, as a matter of fact there was no difference in the books of account of the assessee and GASPL. Under the circumstances, this ground of appeal also does not give rise to any question of law.
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