TMI Blog2020 (9) TMI 824X X X X Extracts X X X X X X X X Extracts X X X X ..... above have been produced before the assessing officer, it is submitted that he does not have complete information with regard to the same. On considering these four bills, we are of the view that if the same were placed for consideration before the assessing officer, then he may have come to a different conclusion than what he has arrived at. We also do not notice that the assessing officer has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2005 - 06 along with audited balance sheet and statement of accounts. A notice was issued under section 143 (2) of the Income-tax Act, 1961. Thereafter, the appellant was directed to furnish certain details with regard to balance confirmation of creditors with closing balance above ₹ 50,000/-. The same was complied with. However, the balance confirmation in respect of M/s B.K. Vinod Co. P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l. 2. The appeal was admitted on 20-3-2013 on the question - whether the appellant has discharged the obligation to satisfy the genuineness of the creditors in terms of section 68 of the Income-tax Act, 1961. 3. Shri P.R. Mullick, learned counsel for the appellant contends that the assessing officer has committed an error in disallowing the same. Sufficient material existed in order to indic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fy the authority with regard to the genuineness of the transactions cannot now contend to the contrary. 5. However, on considering the contentions, we are of the view that the assessing officer should have considered the material produced before him, which have also been enclosed herein. On a specific question being asked to the learned counsel for the revenue - whether the bills referred to he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal is allowed. The order dated 28-9-2012 passed by the Income-tax Appellate Tribunal, New Delhi in ITA No. 2614/Del/2012 (AY 2006-07) is set aside. The matter is remanded back to the assessing officer to reconsider the matter afresh, in the light of the aforesaid four bills produced herein and thereafter, pass a fresh assessment order, in accordance with law. - - TaxTMI - TMITax - Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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