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TMI Blog2020 (4) TMI 906X X X X Extracts X X X X X X X X Extracts X X X X ..... and in law in deleting the addition of Rs. 10,20,64,174/- on account of amount credited in bank account of the assessee in excess of receipts as per' books of account and also allowing the assessee appeal against the rejection of the books of accounts of the assessee. 2. Whether the Ld. CIT (A) has erred on facts and in law in deleting the addition of Rs. 23,02,705/- made on account of difference in brokers' account submitted by assessee and party wise gross receipts in assessee's books of accounts. 3. Whether the Ld. CIT(A) has erred on facts and in law in deleting the addition of Rs. 2, 76,200/- made on account of non deduction of TDS on professional charges. 4. Whether the Ld. CIT(A) has erred on facts and in law in de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 2(22)(e) of the Act at Rs. 29,27,178/-. The assessee had claimed ROC expenses of Rs.2,50,91/- for enhancing its authorized share capital. However, the same was disallowed. The AO also disallowed the deduction claimed on account of professional fee paid of Rs. 2,76,200/- for non deduction of tax at source. Another addition made in the hands of the assessee was the disallowance under section 14A of the Act at Rs. 6,25,265/-. 6. Before the CIT(A), the assessee furnished written submissions and the CIT(A) dealt with each of the issue. The first issue which was decided was the addition made after rejection of books of accounts. The CIT(A) from para 3.0 to 3.1.9 dealt with the aforesaid issue and was of the view that the rejection of books ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmodities Trade Pvt. Ltd. 132,667,277 121,667,277 10,500,000 Rs. 10,500,000/- (Rs 50,00,000 + Rs 55,00,000) dated 05.07.2010 Contra entry as shown in bank statement on account oj Cheque dishonored on 06.07.2010 Difference of amount appeared in bank account on account of cash deposit, contra entry, loan received back, loans & advances given duly accounted into books of accounts 58,662,850 Zaljog Commodities Trade Pvt. Ltd. 5,00,000 Rs 5,00,000/- paid as Margin money on 26.06.2010 by the appellant which is received back and not considered as part of revenue or expense R. K. Commodities Services Pvt. Ltd. 189,994,543 189,494,543 500,000 Rs. 500,000 paid as Margin money on 05.07.2010 by the appellant which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4/- on account of amount credited in bank account of the appellant in excess of receipts as per books of account is not sustainable in view of documentary evidences already available on record to substantiate the said difference. The AO has failed to make any sincere effort regarding the same and made addition only on the basis of doubt, suspicion, conjecture or surmises without affording proper opportunity of being heard to the appellant which is in violation of principles of natural justice. Hence, considering the entire facts and circumstances of the case of the appellant, addition made by AO is liable to be deleted. 9. The learned DR for the Revenue has failed to controvert the findings of CIT(A) in this regard. We find no merit in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,000 contra entry on account of D D cancelled as shown in ledger account of M/s Capital Wizard less Rs 6,27,867 STT not deducted in gross receipts by appellant) Total 35,01 ,64 ,360 34,78,61,655 23,02,705 11. The CIT(A) deleted the said addition made by the AO observing that the said difference in party wise detail and brokers' account is due to Margin Money and STT. In view of the findings of the CIT(A) with regard to the aforesaid addition, we find no merit in the grounds of appeal no. 2 raised by the Revenue and the same is dismissed. 12. Now coming to the .next issue of the deletion of addition of Rs. 2,76,200/-, the CIT(A) noted that the assessee had not claimed the said professional expenses in its profit & loss account ..... X X X X Extracts X X X X X X X X Extracts X X X X
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