9911796707
TMI Blog2021 (6) TMI 847X X X X Extracts X X X X X X X X Extracts X X X X ..... om other sources. Pursuant to the survey conducted in the case of M/s. Cardio Technovention, and information received there from the case of the assessee was reopened for the assessment year 2010-11 by issuance of notice under section 148 of the Income Tax Act, 1961 (for short "the Act"). Assessee filed the return of income on 29 1999-2000 10 declaring a total income of Rs. 64,18,010/-. Assessment order reads that during the course of survey in the case of M/s. Cardio Technovention and dealing in the supply of medical equipment like Coronary stents ext. several handwritten notebooks in pencil containing detail of case transaction for FY 2008-09 to 2012-13 were impounded; that such an notebook contained several entries in coded form which wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... example, "NHI/VS/CO/548 15000" and the Revenue interpreted it as representing "Hospital name/Doctors initial/product name/date/bill number commission amount paid" to say that a sum of Rs. 15,000 was paid to VS (Vinod Sharma) in respect of the product with code CO, where the NHI represents National heart Institute. Ld. AR argues that except the surmises and conjectures of the learned Assessing Officer, there is no concrete material to connect this code with the assessee and there are any number of possibilities disturbing this interpretation. He submitted that there is no corroborating evidence from any quarter to pinpoint this interpretation adopted by the Revenue. Ld. AR submitted that there are possibilities that any cash was actually gi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he diary were confirmed by M/s. Cardio Technovention additions and it was not denied by the assessee. She further argued that during the course of assessment proceedings the assessee simply denied the allegations without any submission of supporting papers and the conduct of the assessee is fraught with suspicious circumstances and therefore while following the addition of the Hon'ble Supreme Court in the case of Durga Prasad More 82 ITR 540, the addition in the hands of the assessee is justifiable. 7. We have gone through the record in the light of the submissions made on either side. As submitted by the Revenue, in the diaries the relevant notings read in a cryptic form like "NHI/PS/CO/548 15000" and the Revenue read it as "Hospital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the commission. 8. Apart from this, it could be seen from the record and the orders in case of M/s. Cardio Technovention that the plea of the Revenue was that the commission that was paid to the agent through banking channels was received back by M/s. Cardio Technovention in cash to pay the same to the doctors. In the order for the assessment year 2014-15 in the case of M/s. Cardio Technovention, in appeal, Ld. CIT(A) on a consideration of the entire material reached the conclusion that in respect of the commission paid to the agent, the same was confirmed by the agents, by cogent record and supported by the denial of the hospitals and the facts and circumstances did not prove that there was any withdrawal in cash by the commission agent ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
