TMI Blog2013 (11) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... Inds. - The entry have been cross checked with the entries in the books of that company – The addition made by the Assessing Officer is based upon non-application of mind to the facts of the case and non-appreciation of the provisions of section 68 – Decided against Revenue. - - - - - Dated:- 27-9-2012 - Order The order of the Bench was delivered by Mehar Singh (Accountant Member).-The present appeal filed by the Revenue is directed against the order dated April 12, 2010 passed by the learned Commissioner of Income-tax (Appeals) under section 250(6) of the Income-tax Act, 1961 (in short "the Act"). In this appeal, the Revenue has raised the following grounds of appeal : "1. That the learned Commissioner of Income-tax (Appeals)-II ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly considered the contention of learned counsel for the appellant, report of the Assessing Officer and perused the relevant record. The Assessing Officer has made addition of Rs. 28 lakhs in respect of advances of Rs. 25 lakhs shown to be received from M/s. Jot Agro Processors P. Ltd. and Rs. 3 lakhs from M/s Madura Agro Food Inds. As far as the advance received from M/s. Jot Agro P. Ltd. is concerned, even as per the inquiries made by the Assessing Officer discussed in the assessment order the company was not to be non-existent. The only fact was that the information called for by the Assessing Officer somehow could not be received. The main objection of the learned Assessing Officer in not accepting this advance to be genuine, was that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... referred to by the Assessing Officer and reproduced in the preceding paragraphs. Therefore, the entry of Rs. 3 lakhs having been cross checked with the entries in the books of that company, again there is no cause left for making this addition of Rs. 3 lakhs in the hands of the appellant on the ground that the sources of the same had not been explained. Further, though the other transactions recorded in the copy of account of the appellant in the books of M/s. Madura Agro Food Inds. had not been made the subject-matter of any addition in this case by the Assessing Officer, he has pointed out certain discrepancies with respect to these entries in his report dated March 10, 2010. However as explained in the submissions of learned counsel date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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