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TMI Blog2016 (5) TMI 248X X X X Extracts X X X X X X X X Extracts X X X X ..... . Mohini Tandon and M/s Allambana India, whose income tax details and creditability was not proved. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 12,33,000/-on account of unexplained cash credit in the name of M/s Go To Customers Services (P) Ltd. 4. On the facts and in the circumstances of the case and in law the learned Commissioner of Income Tax(Appeals) erred in deleting the addition of Rs. 10,00,000/- out of the claim of various expenses without appreciating the fact that the assessee failed to produce books of accounts and vouchers etc. in support of the claim of such expenses. 5. The appellant craves leave for reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of appeal." 2. The facts in brief are that the assessee filed return of income declaring loss of Rs. 1,90,64,303/- on 30/10/2004. The case was selected for scrutiny and notice under section 143(2) of the Income-tax Act, 1961 (in short "the Act") was issued and served upon the assessee within stipulated period. In the scrutiny assessment completed under section 143(3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de and thus accordingly, the assessee requested to take those documents on record. 6. The Ld. Departmental Representative, on the other hand, opposed the admission of the additional evidences on the ground that the authorities below had already provided sufficient opportunity of hearing to the assessee and, therefore, the assessee may not be allowed to produce those documents now at the stage of hearing before the Tribunal. 7. We have heard the rival submissions and perused the material on record. We find that the documents submitted by the assessee goes to the root of the issue of unexplained cash credit of Rs. 92,38,635/-, on which the revenue is in appeal. We don't find any mala fide in not producing these documents before the lower authorities. We are of the opinion that these documents are vital in deciding the issue in dispute raised in ground No. 2 of the appeal, therefore, we allow the application of the assessee for admitting the additional evidences stated in the application. 8. In the ground No. 1, the Revenue has challenged the deletion of Rs. 42,34,269/- by the learned CIT(A), which was disallowed by the Assessing Officer out of the depreciation claimed by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... required by us. Accordingly, the ground of the Revenue is dismissed. 9. In ground No. 2, the Revenue has challenged the deletion of the addition of Rs. 92, 38, 635 made as unexplained credits in the name of Sh. Gokul Tandon. 9.1 The Ld. DR submitted that in the course of assessment proceeding the assessee company failed to discharge its burden of proof in respect of unsecured loans from Sh. Gokul Tandon. The sum of Rs. 6,11,661/-advanced by Mr. Gokul Tondon through book entries was accepted by the Assessing Officer, however, the balance amount of Rs. 92,38,635/- which was advanced though different bank accounts, few of which were maintained as joint account with Mrs. Mohini Tandon and few accounts belonging to firm namely M/s Allambana. The learned DR submitted that the assessee failed to explain the source of money advanced, thus, the Assessing Officer rightly made the addition. He further submitted that the Ld. CIT(Appeal) failed to appreciate that genuineness of the transaction and creditworthiness of the lender was not established. The ld. Authorized Representative, on the other hand submitted that the assessee had filed all the documents required to substantiate the fact th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r service private limited 7, 69,500 5,36,500 12,33,000 Difference in loan paid name of the person Amount of loan paid in rupees Difference as per details as per Annexure Go to customer service private limited 5,23,000/- 2, 46, 500/- 12, 33, 000/- 11. As regard to the difference, the assessee explained before the Assessing Officer that same was due to typographical error in the Annexure to tax audit report and the amount reflected in the details submitted by the assessee was correct. The assessee further explained before the Ld. Commissioner of Incometax (Appeals) that entries in the books of accounts of the assessee were duly verified with the confirmation submitted by M/s Go To Customers Private Limited prepared on the basis of their books of account and the typographical error in the audit report may not be taken into account. The ld. Commissioner of Income-tax (Appeals) after considering the submission of the assessee accepted the genuineness of transaction supported by the evidence. The relevant finding of the Commissioner of Income-tax (Appeals) are as under: "I have gone through the assessment order and the detailed written sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counts and vouchers claimed for the expenses of Rs. 5,49,18,182/- and therefore on ad-hoc basis disallowance of Rs. 10,00,000 was reasonable and justified. 12.2 On the other hand, Ld. AR submitted that complete books of accounts with supporting bills and vouchers were produced before the assessing officer as was evident from the letter dated 22/09/2006 filed during assessment proceeding, wherein it had been categorically mentioned that complete books of accounts were produced and therefore the disallowance on estimate basis was not justified. 12.3 We have heard the rival submission and perused the material on record. The Ld. that Commissioner of Income-tax (Appeals) has given his finding on the issue as under: "16 I have gone through the assessment order and the written submissions filed by the Authorized Representative in this regard. The books of account are audited which is acknowledged by the Assessing Officer while making the addition of Rs. 12,33,000/- as mentioned in the Ground No. 4 above. The Assessing Officer himself mentioned that that details have been furnished as seen from the first para of the assessment order which reads as under: "Subsequently, the case w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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