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TMI Blog2013 (12) TMI 469X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee has not filed any fresh list with complete and correct addresses of trade creditors which the assessee has alleged to be genuine creditors - No effort was made to summon trade creditors to the tune of Rs.15,53,815/- to whom notices were served but have not replied – The issue was remitted back to Assessing Officer only for limited purpose of verification again from the trade creditors who have been earlier served but failed to file any confirmation letters. - ITA No.1170/Mds/2012 - - - Dated:- 31-1-2013 - Shri Abraham P. George And Shri Vikas Awasthy,JJ. For the Appellant : Mr G. Baskar, Advocate For the Respondent : Mr. Shaji P. Jacob, Addl. CIT ORDER Per Vikas Awasthy, JM:- The appeal has been filed by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he amounts are different from the one furnished by the assessee. iii) Creditors who have received notices but have failed to respond to the notices; iv) Creditors who have denied any transaction with the assessee; v) Creditors to whom notices sent have been received back unserved on account of incomplete or wrong addresses. 4. The counsel for the assessee submitted that the Assessing Officer has presumed that creditors who have not given confirmation or have denied any business relationship with the assessee or to whom notices could not be served either because of wrong or incomplete addresses are bogus creditors and have thus made addition under section 68 of the Act. The A.R. further contended that the result of enquiry was not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tors were not genuine. The DR referred to the findings given by the Assessing Officer that letters issued to the trade creditors were returned by the postal authorities with a remark "no such farm/ addressee". The assessee was again requested to furnish the details viz. the name of proprietor and name of the farm, name of village, taluk, district along with mobile number, but the assessee furnished the same list which was submitted earlier. The D.R. pointed out that opportunity was afforded to the assessee to furnish complete and correct addresses of the alleged creditors, so that confirmations can be received from them. However, the assessee failed to furnish the same. Even now, the assessee has not furnished any document to substantiate h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not the case of the Revenue that the amount is a loan amount and adverse inference has to be drawn against the assessee in case the assessee fails to produce creditor. The assessee has purchased eggs. The alleged purchases were made in cash. 8. In the interest of equity, we deem it appropriate to remit the file back to Assessing Officer only for limited purpose to verify again from the trade creditors who have been earlier served but failed to file any confirmation letters. Needless to say that if confirmations are received in favour of the assessee the benefit be given to assessee to the extent confirmed. 9. As regards the remaining amount of addition made, we uphold the same. The appeal of the assessee is partly allowed for statist ..... X X X X Extracts X X X X X X X X Extracts X X X X
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