2012 (10) TMI 849

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..... ceeding was alive only for a period of three months. The assessee has submitted before the AO that parties may not be easily accessible after a time gap. With one party, it had dealt with only once. Thus taking into consideration this aspect observed that assessee was prevented by sufficient reasons for not producing the evidence its case falls within the ambit of Rule I of Rule 46A. No reason .....

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..... elected for scrutiny assessment and a notice u/s 143(2)/142(1) were issued on 16.09.2009. On scrutiny of the accounts, it revealed to the AO that assessee company has shown total income from the real estate activities at Rs.9,13,57,538/-. The assessee had carried out construction on three projects during the year namely Tech Square, Trade Centre and Kolkatta Project. It has shown other expenses of .....

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..... essee filed an appeal before the Ld. CIT(A). It moved an application under Rule 46A of the Income Tax Rules, 1962 for leading additional evidence. In the additional evidence, assessee has filed confirmation and all other relevant documents for explaining the genuineness of brokerage paid by it. The Ld. First Appellate Authority has invited the comments of AO for admission of addition evidence as .....

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..... AO but am of the view that in the facts of the case and considering that the parties to whom the brokerage is paid may not be easily accessible after a time gap it is a real possibility that the assessee is prevented from filing the confirmation as called for by the AO, inspite of his best efforts. Therefore, it is in the interest of justice that a confirmation now filed during the appellate proc .....

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..... y the proceeding was alive only for a period of three months. The assessee has submitted before the AO that parties may not be easily accessible after a time gap. With one party, it had dealt with only once. Ld. First Appellate Authority taking into consideration this aspect observed that assessee was prevented by sufficient reasons for not producing the evidence. Hence, its case falls within th .....

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