9911796707
TMI Blog2016 (6) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... Therefore, the learned CIT(Appeals) was justified in refusing to admit this additional evidence in the case Shri Guljari Lal for loan of ₹ 2,50,000/-. Even before us no confirmation or any evidence have been filed to prove the genuineness of the credit. It was observed that the additional evidence produced before CIT(A) was not sufficient to discharge the onus upon the assessee to prove the genuine credit in the matter and further that the assessee had also failed to explain as to why the additional evidence could not be produced before the Assessing Officer. It has also been recorded that no independent confirmation of the creditors had been filed by the assessee. Thus, it was concluded that the assessee had booked bogus purchase ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sued on 9.7.2009 to the assessee to file the return of income. Accordingly, return declaring income of ₹ 1,35,570/- was filed on 2.9.2009 by the assessee. The case was taken up for scrutiny. Notice under section 143(2) of the Act was issued to the assessee. Representative of the assessee appeared and furnished the requisite information. The assessee had shown business income from property dealing. The assessee had also shown sundry creditors of ₹ 7,97,600/-. The assessee was required to file certified copy alongwith narration in the books of all the creditors with regard to the amount of ₹ 7,97,600/-. He was also required to furnish the status of the credit balance in his books of account for the financial year 2005-06, i. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant. 4. We have heard learned counsel for the appellant. 5. It has been categorically recorded by the Tribunal after appreciating the evidence on record that the assessee failed to prove the identity of the creditors, their capacity and genuineness of the transactions in the matter. It was observed that the additional evidence produced before CIT(A) was not sufficient to discharge the onus upon the assessee to prove the genuine credit in the matter and further that the assessee had also failed to explain as to why the additional evidence could not be produced before the Assessing Officer. It has also been recorded that no independent confirmation of the creditors had been filed by the assessee. Thus, it was concluded that the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the creditors. Mere confirmation of the account or copy of the account would not prove the genuineness of the credit in the matter. As noted above, since the purchase vouchers qua these parties have not been produced before the Assessing Officer at assessment stage, would prove that the assessee booked bogus purchases in the books of account as well as noted bogus credit entries in the books of account. We have already referred to the judgments of Hon'ble Calcutta High Court in the cases of Bharati Private Limited and United Commercial and Industrial Company Pvt. Limited (supra) for the proposition that mere filing of confirmation is not enough to prove the genuine credit, would clearly prove that the assessee failed to prove the ge ..... X X X X Extracts X X X X X X X X Extracts X X X X
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