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TMI Blog2012 (12) TMI 626X X X X Extracts X X X X X X X X Extracts X X X X ..... actions to be non-genuine with the help of evidence. The assessee produced the copies of bills, bank statement and the sales tax order. Therefore, respectfully following the order of the Tribunal in assessee’s own case and deleting the addition. Appeal decides in favour of assessee X X X X Extracts X X X X X X X X Extracts X X X X ..... t. 8. The A.R of the assessee filed before us a copy of the order of the Tribunal in assessee's own case passed in assessment year 2007-08 in I.T.A.No.843/Mds/2011 and C.O.No.100/Mds/2011, dated 4.10.2011 and submitted that the Tribunal has deleted the additions made by the Assessing Officer on account of nine trade creditors in the original assessment. He submitted that the facts in the present appeal are also similar to the facts which were before the Tribunal in I.T.A.No. 843/Mds/2011 and therefore, following the decision of the Tribunal in assessee's own case in that appeal, the appeal of the Revenue deserves to be dismissed. 9. On the other hand, the DR supported the order of the Assessing Officer. 10. We have heard the rival submis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the payment details pointed out by the assessee were not reflected therein. In the absence of corresponding entries in the bank account, the onus was on the assessee to prove these transactions by providing the material evidences of either side which she failed to do. The Assessing Officer, therefore, made an addition of Rs. 13,84,500/- to the income of the assessee. 11. On appeal before the CIT(A), the assessee has submitted as under: "The Assessing Officer is wrong in stating at Page 1 of the assessment order that "during the course of survey proceedings, the assessee admitted certain sundry trade credit balances as unproved and agreed to pay the taxes", for the appellant never gave any such statement as . alleged. The order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt order the Assessing Officer has not brought on record regarding the investigations made by him in this regard. The CIT(A) further observed that the Assessing Officer relied on Inspector's report which was not complete. The Assessing Officer has not made any detailed bank enquiries to prove his case that the assessee opened bank account in the name of fictitious concerns. The CIT(A) has further observed that the assessee has addressed a letter to the Assessing Officer on 6.12.2010 wherein the assessee submitted the relevant facts of the report of the Inspector of income-tax. The assessee submitted that the Inspector has stated that tannery was closed from 2007 onwards and could not be verifiable whether the concern was functioning even pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) observed that an examination of the bank account showed that payments were made to M/s Jai Hind Leathers through Indian Overseas Bank account on 7th July, 10th July, 19th July, 21st July, 25th July, 28th July, 3rd August, 25th August and 21st September, through cheques. The Assessing Officer has not brought any evidence to show that the bank transactions are not genuine. He, therefore, directed the Assessing Officer to delete the addition of Rs. 13,84,500/-. 13. We find that the Tribunal, in Revenue's appeal inI.T.A.No.843/Mds/2011 against the original assessment order dated 31.12.2009 passed u/s 143(3), in the similar set of facts, has observed as under: "7. After considering the rival submissions, we have found that the Assessing Off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt and sales tax order, therefore, the deletion in question is quite justified." 14. We find that in the present appeal also, the facts and issue involved are similar. The Assessing Officer has accepted the purchases of Rs. 67,80,384/- made by the assessee from M/s Jai Hind Leathers as genuine. The trade credit is on account of purchase transactions made during the year. The assessee has made payments of Rs. 71,83,294/- during the year. The Assessing Officer has accepted the purchases effected by the assessee from this party and the trading results have not been disturbed and addition has been made on the closing balance as on 31.3.2007. The transactions with the party were found by the CIT(A) to be through banking channels only. The same ..... X X X X Extracts X X X X X X X X Extracts X X X X
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