9911796707
TMI Blog2015 (10) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... rity has not granted sufficient opportunity to the assessee to file confirmation letters. Thus, the case law on which the learned Departmental representative has placed reliance are distinguishable on facts itself. Be that as it may, now the assessee has placed on record confirmation letters from the creditors. We are of considered opinion that in order to verify the genuineness of confirmation letters, the matter needs a revisit to the Assessing Officer. Accordingly, we remit the issue back to the file of the Assessing Officer to decide the issue afresh after verifying the veracity of the confirmation letters and considering the opening balance of the creditors. - Decided in favour of assessee for statistical purpose. - ITA No. 579/Mds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct of one of the sundry creditors, i.e., M/s. Espee Fabrics, the assessee furnished the account details, which were verified to be genuine by the Assessing Officer. In respect of following 4 parties, the Assessing Officer made addition under section 68 as unproved creditors : Rs. 1. M/s. SPK Garments 16,91,845 2. M/s. Viveha Garments 14,97,955 3. M/s. SKV Garments 41,57,746 4. M/s. Togma Knit Wear 5,61,125 Total 79,08,671 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). The learned Departmental representative contended that the assessee had not furnished confirmation letters from the concerned creditors either before the Assessing Officer or before the Commissioner of Income-tax (Appeals). No reason whatsoever has been given by the assessee as to why confirmation letters were not filed before the authorities below. The learned Departmental representative pointed out that the Assessing Officer had given five opportunities to produce evidence in support of his claim but the assessee did not produce any document or confirmation letter before the Assessing Officer. Even before the Commissioner of Income-tax (Appeals), the assessee did not file confirmation letters from the concerned parties. In order to sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... certificates issued by the Commercial Taxes Department to the creditors. 6. The learned Departmental representative has opposed additional evidence sought to be brought on record by the assessee. In support, the learned Departmental representative placed reliance on the decisions of the hon'ble Gujarat High Court and Agra Bench of the Tribunal. In the case of Fairdeal Filaments Ltd. v. CIT [2008] 302 ITR 173 (Guj), the assessee failed to show that sufficient opportunity was not granted by the authorities below. The hon'ble High Court observed that both the appellate authorities had concurrently concluded that sufficient opportunities were granted to the assessee. The Tribunal declined to admit additional evidence under rule 29 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
