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TMI Blog2017 (6) TMI 912X X X X Extracts X X X X X X X X Extracts X X X X ..... T.A .No. 3884/DEL/2012 - - - Dated:- 18-4-2017 - SHRI R. S. SYAL, VICE PRESIDENT, AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER For The Appellant : Sh. Rakesh Gupta, Adv For The Respondent : Sh. U. C. Dubey, Sr. DR ORDER PER SUCHITRA KAMBLE, JM These two appeals are filed by the assessee and the Revenue against the order dated 24/4/2012 passed by CIT(A)-Faridabad on the grounds mentioned hereunder:- 1. On the facts in the circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals) erred in confirming the rejection of the Books of Accounts of the assessee u/s 145(3) of the Income Tax Act, 1961 and thereby confirming the disallowance of ₹ 10,00,000/- and the reasons assigned for do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -. The assessee company is engaged in the business of manufacturing of cold drawn bright bars, ground bars, pealed bars etc. The assessee had purchased iron and steel rods for the purpose of manufacturing of various items. The assessee claimed that it had purchased the material from three entities i.e. M/s Rama Enterprises, M/s AGS Enterprises M/s Royal Industries Corporation. The Assessing Officer made the enquiries from the Excise and Taxation Officer cum Assessing Authority on the basis of TIL s numbers shown in the purchase invoices it was found that the purchases had been made by the three entities mentioned herein above and thereafter in turn sold to the assessee. The assessee paid the amounts which were credited in the bank account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 04.09.2015 observed that: 9. By an order dated 26/11/2014, a Division Bench of this Court noted that a notice u/s 131 of the Act had been served upon M/s Rama Enterprises. We are informed that PAN numbers were called for and have now been produced. The vendors appear to have paid tax. The effect thereof would have to be considered. It would now be possible to ascertain in a more satisfactory manner the genuineness of the entries in the assessee s books of account as well as the genuineness of the transactions. 10. While setting aside the disallowance of the assessee deductions on account of the purchases, the CIT(A) undertook a detailed analysis of the production figures for the previous assessment years and for the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipts of the said supplies were signed by different persons while the bank account were operated by other persons. This fact has been held against the assessee. This finding would be perverse. There is nothing unusual in different persons operating the bank account of a company and signing the confirmation receipts of the supply of goods. 5. The Ld. AR submitted that there are certain documents which were presented before the CIT(A) as well as the Assessing Officer and the same were not taken into cognizance. The Ld. AR submitted that the Assessing Officer has not verified the same. Therefore, the same has to be verified and looked into by the Assessing Officer. The Ld. AR requested to remand back the matter before the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X
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