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2017 (2) TMI 283 - ITAT DELHI

2017 (2) TMI 283 - ITAT DELHI - TMI - Addition to the income of the appellant in respect of the deductions made for the cost of the material supplied by them the deduction towards PF and medical and other expenses of the employees - Held that:- The whole addition has been made by the Assessing Officer merely relying upon Form 26AS without making further enquiry. Whereas the ld CIT(A) has looked at the complete aspect of the contract and reconciliation of the assessee with respect to complete fin .....

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. 2. The revenue has raised the following grounds of appeal:- 1. That the ld CIT(A) has erred in law and on facts in deleting the addition of ₹ 9263310/- without appreciating that the assessee failed to reconcile this amount this sufficient documentary support before the AO. 2. That the ld CIT(A) has erred in law and on facts ignoring the fact that the books of accounts so produced by assessee were not supported by any supporting evidence and he failed to discharge its onus. 3. Therefore, .....

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dit entries in the bank accounts works out of ₹ 26478650/- and therefore, the assessee explained that the difference between turnover declared by the assessee and bank deposits. The assessee also explained that transfer entries have also happened from one account to another account and therefore, the total deposit is explained. The assessee received material from tax deductor i.e. the Principal from whom the contract for electrical and mechanical Ericson was obtained of ₹ 8526003/- a .....

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(A) has deleted the above addition while dealing ground No. 1 after obtaining remand report and rejoinder of the assessee vide para No. 9 of his order which is as under:- 9. After careful consideration of all the facts on records and rival submission as contained in assessment order, in appellant s submission and remand report, my observation/ conclusion are as under:- 9.1 The appellant is a contractor engaged in the job of engineering contract and the major work has been undertaken with UB Engi .....

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ide reply dated 14.12.11, AR of the assessee furnished the reconciliation and from which it was noticed that he has also taken into account transfer entry iron, one bank account to other also, cash deposit and also claimed material received from deductor of ₹ 85,26,0037-, PF deduction of ₹ 7,07,504/- and medical and other deduction of ₹ 39803/-. The assessee was once again asked to give evidence of claim of material supplied etc. As per AO the Assessee had no explanation to off .....

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ion since the deposits in the bank are not in excess of the contract receipts rather the deposits are lesser by the amount of deduction of cost of material and ESI and PF by the principals. The appellant also filed statement of account from M/s U.B. Engineering Limited along with certified copies of the bills and vouchers indicating the supply of the material by M/s U.B. Engineering and deductions made by the while making payment to the appellant for the cost of the material, ESI and PF etc. I f .....

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The documents and the reply filed by the appellant were forwarded by the to the AO for his comments and a reply was received from the AO that the assessee did not make compliance on the date fixed for the verification. I also find that the appellant has rebutted the contention of the AO by stating that the date mentioned by the AO for compliance do not match with the date of the letter alleged to have been issued by him . Thus, all the documents such as certified vouchers of the supply of the ma .....

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nt alongwith bills and vouchers. The date fixed for the purpose was 29.10.2012. on the date fixed the counsel of the assessee requested for adjournment and the case was adjourned for 06. 11. 2012. On the date fixed i.e. 06.1 1.2012.SH. Kailash Nath Mishra attended along with Shri Ram Kumar Sharma, advocate and produced only cash book and ledger. No other books of accounts alongwith bills and vouchers were produced by him. Therefore it is not possible to examine the correctness of accounts....... .....

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the profit and loss account. I agree with the appellant's contention that the AC) was required to verify the contention of deduction of cost of material out of the payment made to the appellant by U.B. Engineering Limited besides deduction for PI' and medical expenses etc. In support of these deductions the complete set of paper book containing certified copies of the statement of account of the appellant from the books of U.B. Engineering Limited, the certify copy of the vouchers and s .....

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ise and has rather avoided to carry in the verification from the company when all the documents were made available to him for his comments. I have also personally examined the contention of the appellant with reference to the statement of account of the appellant received from the books of U.B. Engineering Limited with reference to the certified copies of the statement of supply of material and the deductions made from the payment and these are all verifiable. I have also examined the bank acco .....

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