9911796707
TMI Blog2014 (4) TMI 552X X X X Extracts X X X X X X X X Extracts X X X X ..... olding the additions, without considering the additional evidences filed by the appellant. He failed to give any reasons for not considering such evidences. 3. On the facts and in the circumstances of the case and in law, the learned CIT(A) ought to have considered the additional evidences filed by the appellant, as he was prevented from filing such evidences before the AO for genuine reasons which were beyond his control and as such the failure was neither deliberate nor intentional. 4. The CIT(A) erred by not following the principles of natural justice. 5. On the facts and in the circumstances of the case and in law, the CIT(A) erred by upholding the addition of Rs. 14,31,467/- u/s 68, which represents trade credit outstanding as at th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,720/- iii) Addition towards unexplained credits Rs. 14,31,467/- iv) Addition towards unexplained credits Rs. 2,37,45,133 3. Aggrieved, the assessee carried the matter in appeal before the CIT(A). 4. In the impugned order, the CIT(A) noted that there is only one issue in appeal and that relates to the additions on account of unexplained cash credits u/s 68 of the IT Act. The facts are that the assessee is the MD of M/s Hyderabad Mechanical systems and a partner in M/s SVRS Industries, Hyderabad. During the year, the assessee was in receipt of Rs. 5,20,98,875/- towards contract bills and had shown sundry creditors amounting to Rs. 3,95,90,180/-. After verification, the AO found that the assessee could not provide evidence with respect to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5/02/2014, as follows: "1. Ledger account of Sri Krishna Chaitanya Projects in the books of HEMS Constructions for the period 01/04/2009 to 31/03/2012 and Letter from Smt. D. Krishnaveni with regard to confirmation of death of her husband and undertaking of sub-contracts along with death certificate. 2. Ledger Account of K. Srinivas in the books of HEMS Constructions for the period 01/04/2009 to 31/03/2012 and letter from Smt. K. Jayalakshmi with regard to confirmation of death of her husband and undertaking of sub-contracts along with death certificate. 3. Detailed statement of purchases made from Sri Vishnu Spun Pipes for the period 01/08/2009 to 31/03/2010." 7.1 The AR contended that, in spite of this, the CIT(A) passed the order on ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
