TMI Blog2014 (6) TMI 1038X X X X Extracts X X X X X X X X Extracts X X X X ..... d by applying the net profit rate of the total receipts. Although a lumpsum addition has been sustained by invoking different net profit rate, but a separate addition of sundry creditors by treating them as bogus, particularly, when these are trade creditors, the entire amount qua them is not justified. When the assessee is showing receipt of all these creditors and in that case even if the names and complete addresses thereof could not be given but the trade creditors cannot be treated at par with the cash creditors. - Appeal of the department stands dismissed. - ITA No. 285/Jodh/2013 - - - Dated:- 9-6-2014 - SHRI HARI OM MARATHA, JUDICIAL MEMBER AND SHRI N.K. SAINI, ACCOUNTANT MEMBER For the Assessee : Shri C.R. Choudhary. F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Agarwal B.T. Sons 250000 Heera Lal 78790 HI-Tech Earth Movers 4163799 J.J. Engineers 75529 JRC Construction 303500 Madan Ram 51760 Mahipal Ram 2344409 Man Singh 1080650 Mohd. Bhai Contractor 790775 Nasir Bhai Contractor 758763 Nathu Lal 432670 Pioneer Trader 296040 Pradeep Kumar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ripra Enterprises 1015000 Smt. Bhawari Devi Choudhary 291544 Smt. Nirmala Choudhary 2356535 Total 11330726 Finally, after making discussion regarding the genuinity of the other creditors, the A.O. has made addition of ₹ 1,13,30,726/- by holding them as bogus creditors, against which the assessee preferred appeal and the ld. CIT(A) has deleted the entire addition by giving a finding that when books of account are rejected and provisions of section 145 of the Act are invoked, no such separate addition can be made in respect of trade creditors and he found it just and fair to estimate t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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