9911796707
TMI Blog2017 (6) TMI 400X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Appeal-I, Aurangabad erred in confirming the Assessment Order passed by the Income Tax Officer, Ward 1, Jalna on total income of Rs. 12,23,300/- as against the income of Rs. 2,92,210/- return by the Appellant. 2. Under the facts and circumstances of the case the learned Commissioner of Income Tax Appeal-I, Aurangabad erred in not allowing depreciation of Rs. 4,25,181/-. 3. Under the facts and circumstances of the case the learned Commissioner of Income Tax Appeal-I, Aurangabad further erred in confirming the addition of Rs. 5,05,908/- on account of alleged inflated purchases. The addition is not well founded and deserves to be deleted. 3. The ground of appeal No.1 raised by the assessee is general in nature and hence, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. The Assessing Officer rejecting the plea of assessee, made an addition of Rs. 5,05,908/- on account of bogus and inflated purchases. 6. Before the CIT(A), the first issue raised by the assessee was against the order of Assessing Officer in taking the returned income at Rs. 7,17,390/- instead of correct income returned by the assessee at Rs. 2,92,210/-. The next issue raised by the assessee was against the addition on account of inflated purchases of Rs. 5,05,908/-. The assessee explained that it had filed the return of income declaring Rs. 2,92,210/- on 29.09.2009. The said return was processed under section 143(1) of the Act and the income was computed at Rs. 7,17,390/-. The difference in income was due to the disallowance of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. Consequently, addition of Rs. 5,05,908/- was upheld by the CIT(A). 8. The assessee is in appeal against the order of CIT(A) on both the issues. 9. We have heard the rival contentions and perused the record. With regard to the issue of allowance of depreciation on assets purchased, the assessee made an application for admission of additional evidence, under which it has summarized the details of fixed assets purchased during the year and has submitted the invoices traced by the assessee in respect of part of the assets. In respect of assets under the head 'electric fittings', the assessee has not placed any invoices. In respect of lorry purchased, copy of agreement is filed and in respect of machinery purchased, the assessee has filed s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Assessing Officer. The Assessing Officer shall look into the additional evidence and decide the issue in accordance with law, after affording reasonable opportunity of hearing. 10. Now, coming to the issue raised vide ground of appeal No.3, wherein the addition has been made on account of hawala purchases. The Assessing Officer had received information from the Sales Tax Department in respect of certain purchases made by the assessee from hawala parties. The assessee was asked to establish the delivery of goods and furnish the evidences in this regard in order to prove its case of purchases made. However, the assessee claimed that though the delivery of cement was made, but it had no evidence by way of lorry receipts or delivery ..... X X X X Extracts X X X X X X X X Extracts X X X X
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