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TMI Blog2017 (5) TMI 1100X X X X Extracts X X X X X X X X Extracts X X X X ..... Thus, both the appeals were heard together and are deciding by a consolidated order to avoid the conflicting decision. For appreciation of facts we are referring the facts of appeal ITA No. 4623/Mum/2013 for AY 1997-98 2. The assessee has raised the following grounds of appeal: a. On the facts and circumstances of the case, the learned CIT (A) erred in confirming the additions of Rs. 14,59,699/- on the fictitious sales of Rs. 3,64,92,493 @ 4%. b. (a). The learned CIT (A) erred in confirming the additions of Rs. 57,93,252/- treating the same as unexplained credits in the balance sheet (sundry creditors) (b). CIT (A) failed to appreciate that the sundry creditors are fictitious, which arose on account of fictitious purchases shown in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment was completed on 28.03.2000, considering the material found during the survey, the AO determined the income of assessee at Rs. 17,30,00,600/-. On appeal before the ld. CIT(A), the assessee was granted partial relief. Assessee as well as Revenue filed cross appeal before the Tribunal. The Tribunal in a common order in ITA No. 4043/M/12 dated 19.11.2007 set-aside the assessment order and restored the case for fresh assessment. In the set-aside proceeding, the AO observed as under: "The A.O. observed that the assessee Shri Naresh Balwant Rai Vora and his brother Shri Sudhir Balwant Rai Vora are Hawala bill providers to certain petroleum product dealers in Mumbai. They have mainly provided hawala bills to the members of Thakkar Group and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a dealers. The A.O. observed that the assessee received commission for his services on the total value of the bogus bills provided by him." 4. In the set-aside proceeding, the AO while passing the assessment order on 17.11.2008 u/s 143(3) r.w.s 254 of the Act and made the following addition: Sr. Particulars Addition (Rs.) (1) u/s 80-IA claim withdrawn 9,83,541 (2) Brokerage income 80,600 (3) Net profit on the sale of Rs. 3,64,92,493 (4%) 14,59,699 (4) Unexplained credit in the Balance Sheet- Sundry creditors 57,93,252 (5) Unexplained credit in the Balance Sheet- Loan credit 45,860 (6) Opening balance in the Capital A/c 1,84,076 (7) Undisclosed income utilized in making payments to Seven Petroleum Company 21,68,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Revenue and to rely upon the material available on record. The ld. DR for the Revenue argued that in the first round of litigation, the appeal of the assessee was restored back to the file of AO vide order dated 29.11.2007 in ITA No. 4043/M/02. The AO after giving full opportunity to the assessee made the other addition besides the other additions. On appeal before the ld. CIT(A), the assessee was given substantial relief. The ld. DR for the Revenue argued that assessee has neither came to substantiate his claim nor filed any documentary evidence on record. Thus, the appeal of the assessee is liable to be dismissed. 7. We have considered the rival contention of ld. DR for the Revenue and perused the material available on record. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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