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TMI Blog2017 (5) TMI 359X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by the assessee during the course of assessment proceedings before the Assessing Officer and the same did not constitute additional evidence filed by the assessee before the ld. CIT(Appeals) for the first time as alleged by the ld. D.R - Decided against revenue. - I.T.A. No. 1581/KOL/ 2016, And C.O. NO. 52/KOL/2016 - - - Dated:- 5-5-2017 - Shri P.M. Jagtap, Accountant Member For The Department : Md. Ghayas Uddin, JCIT, Sr. D.R. For The Assessee : Shri S.M. Surana, Advocate and Shri Suni l Surana, FCA ORDER Per Shri P.M. Jagtap, A.M. . : This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-9, Kolkata dated 24.05.2016 and the same is being disposed of along wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tice under section 148. During the course of assessment proceedings, the assessee was cal led upon by the Assessing Officer to produce the relevant details and documents to prove that the purchases claimed to be made by it from M/s. Little Diam of ₹ 12,98,396/-, M/s. Vintage Jewel ls of ₹ 19,42,368/- and M/s. Sun Diam of ₹ 5,49,968/- were genuine and it was not a case of accommodation entry obtained by the assessee. According to the Assessing Officer, neither the assessee nor his Authorized Representative, however, appeared before him with any documents to prove the genuineness of purchases made from the said parties and kept on challenging the validity of reopening on one pretext or the other. He, therefore, treated the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellers belonged to Bhawarlal Jain group. It was further submitted that the purchase were al l entered into day to day stock register and were identifiable by the sale of the material with reference to such purchase and the remaining material which was not sold was identifiable in the closing stock. It was further submitted that day to day stock register was produced before the AO and the AO has not disputed the same. The assessee has cited a number of judgement s on the issue that when no sale was possible unless purchase was made! no addition can be made. I have considered the submissions. I f ind that the all the bills for purchase were produced before the AO and the payment was also made by the assessee by account payee cheque. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed to be made from the three parties by producing relevant bi l ls, etc. , but the assessee failed to do so. He has invited my attention to the relevant portion of the assessment order to point out that neither the assessee nor his authorized representative even appeared before the Assessing Officer during the course of assessment proceedings. He contended that the ld. CIT(Appeals), however, allowed the claim of the assessee regarding the genuineness of the relevant purchases and deleted the addition made by the Assessing Officer by treating the said purchases as bogus by relying on the bi l ls of the concerned parties ignoring the fact that the said bi l ls were never produced by the assessee for verification before the Assessing Of f i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no. and even the copy of Bank statement was f i led by the assessee showing that the payments to the said parties were made by account payee cheques. He has then invited my attention to the copy of letter dated 25.03.2015 issued by the Assessing Of ficer placed at page no. 40 of the paper book and submitted that the information regarding purchases made from other two parties, namely M/s. Vintage Jewel ls and M/s. Sun Diam was cal led for by the Assessing Officer only at the fag end of the assessment proceedings and the same was immediately furnished by the assessee under letter dated 26.03.2015. He has taken through the copy of the said letter duly acknowledged by the Office of the Assessing Of f icer placed at pages 41 to 45 of the paper b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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