TMI Blog2021 (12) TMI 1437X X X X Extracts X X X X X X X X Extracts X X X X ..... ertaining to the cotton cloth and raw cotton have been certified. Apparently this Certificate was neither before the Assessing officer and nor before the Ld. CIT(A) and the assessee has filed it in the paper book for the first time before us. We also note that there is no application on behalf of the assessee to admit this Certificate as additional evidence. Thus in the absence of such application for admitting of additional evidence, the same cannot be admitted for consideration by us. Thus although the assessee could not explain the claim of wrong posting at the time of assessment proceedings or first appellate proceedings but had duly furnished the relevant documents coupled with the settled principle that tax should be levied onl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osted the sale bill of cotton cloth in raw cotton account and, therefore, there was a loss as per the figures appearing in the books of account . The assessee was asked to furnish the documentary evidence in support of this claim. In response to the query raised by the Assessing officer, the assessee did file copies of some ledger accounts containing month-wise sale account of cotton cloth as well as sale account of raw cotton. However, the Assessing officer was of the view that the assessee had failed to explain the claim of wrongly classified sale of cotton cloth. As per the Assessing officer, the relevant documentary evidences were not furnished before him. The Assessing officer proceeded to make an addition of Rs. 32,20,261/- by computi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... obtained a Certificate from the Chartered Accountant (C.A. ). certifying that they have verified the quantitative records and other documents relating to the purchase and sale transact ion of the cotton cloth and raw cotton for the year under consideration and that the summarised details (quantity wise) which was part of the Certificate were being certified. The Ld. AR submitted that in view of this Certificate as well as the incorrect al legation by the lower authorities of non-filing of requisite documents, the impugned addition should be deleted. 4.0 Per contra, the Ld. Sr. DR supported the concurrent orders of both the lower authorities and submitted that the fact did remain that the assessee could not substantiate the wrong posting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Ld. CIT(A) and the assessee has filed it in the paper book for the first time before us. We also note that there is no application on behalf of the assessee to admit this Certificate as additional evidence. Therefore, in the absence of such application for admitting of additional evidence, the same cannot be admitted for consideration by us. However, at the same time, looking into the facts and circumstances of the case and keeping in mind the fact that although the assessee could not explain the claim of wrong posting at the time of assessment proceedings or first appellate proceedings but had duly furnished the relevant documents coupled with the settled principle that tax should be levied only on the correct amount of income, and a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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