2016 (1) TMI 1129

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he Assessing Officer to verify the issue and delete the addition M/s. Yahoo India Pvt. Ltd. after taking indemnity bond from the assessee even though the assessee could not furnish the evidence in support of its claim even before the AO and the CIT(A), as is clear from the order of CIT(A) which says that "AO must give effect to the same after duly verifying these entries and cross checking them with AIR details to give effect, may be after obtaining an indemnity Bond from the appellant". 2. The Learned CIT(A) has erred on facts and in law in directing the Assessing Officer to allow credit of TDS and grant interest u/s 244A after making the verification without properly appreciating the legal and factual matrix as clearly brought out by the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion statement submitted by the assessee found such statement to be containing details like name of parties, invoice date and amount paid, etc. In some cases, he found that invoice date is beyond F.Y. 2007-08. He also found some discrepancies in respect of certain other entries. However, considering the fact that for majority of entries assessee was able to furnish details, learned Commissioner (Appeals) directed the Assessing Officer to verify the entries as per reconciliation statement submitted by the assessee by cross checking with AIR information and given effect to them after obtaining indemnity bond from the assessee. 5. The learned Departmental Representative submitted, before the Assessing Officer, the assessee did not reconcile 16 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... remained un-reconciled by the assessee. It is also not disputed that apart from AIR information, there is no other evidence or material available before the Assessing Officer to indicate that assessee has received income more than what is declared in Profit & Loss account. It is also a fact on record that in course of hearing of appeal, assessee has reconciled 161 un-reconciled entries by furnishing all necessary details. It is not the case of the Department that the information / details submitted by the assessee in respect of un- reconciled entries are not genuine or unbelievable. Therefore, when the learned Commissioner (Appeals) has directed the Assessing Officer to verify the reconciliation of entries by examining the details submitted .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X