TMI Blog2018 (10) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... dly stating that he had never issued the alleged bills and that he had never undertaken any such transportation work nor received any payment for the same, the revenue authorities are bound to investigate the matter by summoning the persons in charge of M/s. Impex Ferrotech ltd. The genuineness of the bills have to be examined. No transporters payment can be blocked for more than two years without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) ), dt. 17/01/2018, passed u/s 250 of the Income Tax Act, 1961 (hereinafter the Act ), relating to Assessment Year 2012-13. 2. The assessee is an individual and is engaged in the business of transportation under the name and style of M/s. Calcutta Delhi Transport. The only issue that come up for my adjudication is an addition of ₹ 13,30,797/-, under the head undisclosed transactions . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,797/-, was added as undisclosed receipts, to the income of the assessee. Aggrieved, the assessee carried the matter in appeal. Before the ld. First Appellate Authority, the assessee pleaded that he has not raised any bills worth ₹ 13,30,797/-, on M/s Impex Ferrotech Ltd. and that the alleged bills have not been issued by him. He categorically stated that the did not undertake any transport ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and as more than two years has lapsed, it is clear that the transactions have not taken place, as no transporter can wait for more than two years without a single payment. No tax was deducted at source also. In my view, when the assessee has been repeatedly stating that he had never issued the alleged bills and that he had never undertaken any such transportation work nor received any payment f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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