9911796707
TMI Blog2015 (9) TMI 1407X X X X Extracts X X X X X X X X Extracts X X X X ..... me might have been spent out of books of accounts or was available with the assessee. He accordingly held that the addition to the extent of 1 lakh was liable to be made under section 69A or 69C of the Act. In my opinion, this altogether new basis adopted by the ld. CIT(A) while sustaining the impugned addition, was not supported by any evidence and the same being based on mere surmises and conjec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The return of income for the year under consideration was filed by it on 28.09.2010 declaring total income of ₹ 1,38,643/-. During the course of assessment proceedings, it was noticed by the AO that the debit balance shown, as per the books of accounts of the assessee, in the name of one debtor, M/s. Sen & Associates as on 31.03.2010 was ₹ 18,96,137/- as against the credit balance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said party were already accounted for by the assessee, the difference added by the AO resulted in double addition. The difference was also explained by the assessee by stating that certain payments claimed to have been made by the said party in cash at the fag end of the financial year 2011-2012 have not been received by it. In this regard, the ld. CIT(A) found that the difference to the extent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made by the AO on account of difference in balance was sustained by him to that extent. Aggrieved by the order of the ld. CIT(A), the assessee has preferred this appeal before the Tribunal. 4. I have heard the arguments of both the sides and perused the relevant documents. As rightly contended by the ld. Counsel for the assessee, when the debit balance in the account of M/s. Sen & Associates was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition to the extent of ₹ 1 lakh was liable to be made under section 69A or 69C of the Act. In my opinion, this altogether new basis adopted by the ld. CIT(A) while sustaining the impugned addition, was not supported by any evidence and the same being based on mere surmises and conjectures is not tenable. I, therefore, delete the addition made by the AO on this issue and sustained by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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