TMI Blog2018 (1) TMI 1678X X X X Extracts X X X X X X X X Extracts X X X X ..... d be provided an opportunity to explain the details alongwith statements filed before us and the Assessing Officer has to verify whether the assessee has raised sales bills in the assessment year 2010-2011 and pass the order on merits. The Assessing Officer is directed to afford proper opportunity of hearing to the assessee before adjudicating the issue afresh. Addition as suppressed sales - HELD THAT:- Addition being suppressed sales is also restored to the file of the Assessing officer with the same direction as give above. This issue is also allowed for statistical purposes - ITA No. 01/Rpr/2014 (Assessment Year : 2009-2010) - - - Dated:- 15-1-2018 - S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty purchased the goods for a particular project and the whole project material was not sent at a time but sent by four consignments and, accordingly, whenever the whole segment of project items were sent to the named party, then whole realization value of ₹ 38,38,543/- dated 31.10.2009 had been accounted for in the next assessment year. The above explanation of the assessee was not convinced to the Assessing Officer, who observed that the assessee had converted revenue receipt of ₹ 27,49,,190/- as an advance and showed it as liability in the balance sheet, whereas the liability does not exist. Therefore, he treated the amount as bogus liability and added the same to the income of the assessee u/s.68 of the Act. 4. On appeal, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as raised sales bills in the assessment year 2010-2011 and pass the order on merits. The Assessing Officer is directed to afford proper opportunity of hearing to the assessee before adjudicating the issue afresh. 8. The next issue relates to addition of ₹ 8,60,783/- as suppressed sales. 9. Ld A.R. of the assessee submitted that the above addition is included in ₹ 8,60,783/- as suppressed sales. 10. As we have restored the addition of ₹ 27,49,190/- to the file of the Assessing Officer, the addition of ₹ 8,60,783/- being suppressed sales is also restored to the file of the Assessing officer with the same direction as give above. This issue is also allowed for statistical purposes. 11. In the result, appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
