2014 (1) TMI 1139

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..... he following grounds :- "1. On the facts and circumstances of the case, the ld. CIT(A) erred in deleting the addition made on account of suppressed purchases and profit of such purchases for a total amount of Rs.3,12,845/-. 2. On the facts and circumstances of the case, the Ld. CIT(A) erred in deleting the addition made on account of cessation of liability for a total amount of Rs.15,45,045/-. 3. On the facts and circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs.5,07,500/- made on account of 5% of labour charges, loading and unloading expenses. 4. The appellant most humbly craves leave to add, alter and modify or delete all or any ground of appeal at any stage during the appellate proceedings." 4. In respec .....

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..... not apply as there was no cessation of liability as the creditor had not withdrawn its claim. It was submitted by the ld. DR that order of the ld. CIT(A) was liable to be reversed. 4.2. In respect of ground no.3 it was submitted by the ld. DR that on account of non production of TDS certificates and non compliance of the provision of TDS, 5% of the labour charges and loading and unloading charges claimed are disallowed by the AO to plug the leakage of the Revenue. The ld. CIT(A) deleted the addition. It was the submission that the order of ld. CIT(A) was liable to be reversed. The ld. DR vehemently supported the order of the AO. 5. In reply the ld. AR vehemently supported the order of ld. CIT(A). It was the submission that in respect to .....

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..... y reflected in the ledger of M/s. Haldia Steel Ltd. Further a perusal of the order of the ld. CIT(A) shows that the ld. CIT(A) has verified the reconciliation of the figures and no defect in the same allegedly in the hands of the assessee has been found. In the circumstances we are of the view that the findings of the ld.CIT(A) is on a right footing and does not call for any interference. 6.1. In regard to ground no.2 it is noticed that this ground is connected to ground no.1 in the Revenue's appeal, in so far as the figures adopted are from the reply given u/s 133(6) of the IT Act by M/s. Haldia Steel Limited. However, what is to be appreciated is that the assessee is the creditor in respect of M/s. Haldia Steel Limited and Haldia Steel L .....

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