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TMI Blog2017 (10) TMI 876X X X X Extracts X X X X X X X X Extracts X X X X ..... g expenses in the disallowance. Keeping in view of the facts and circumstances of the case, we are of the view that there is no need to interfere in the impugned order on this issue, hence we uphold the same. With regard to the bogus purchases it is a fact that the purchases are hypothecated with the bank and in the absence of purchases i.e. stock, the banker would generally not give the loan to the appellant. The existence of Shri Anil Nagpal. proprietor of M/s Baba Finishers has also been adequately proved, in view of his physical presence before me as also the particulars of Permanent Account Number card and passport shown to me. That Shri Anil Nagpal is an Incometax assessee and has filed his Income-tax returns is also an undisputed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... HU, ACCOUNTANT MEMBER For The Department : Sh. Arun Kumar Yadav, Sr. DR For The Assessee : S h . Prakash Kumar, Adv. ORDER PER H.S. SIDHU, JM: The Revenue has filed the present appeal against the impugned order dated 15/2/2011 passed by the Ld. Commissioner of Income Tax (Appeals)-XXVI, New Delhi on the following grounds:- 1. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of ₹ 1,9,25,000/- being 11% of the business expenditure u/s. 69 of the I.T. Act made by AO. 2. The appellant craves leave, to add, alter or amend any ground of appeal raised above at the time of the hearing. 2. The brief facts of the case are that the assessee filed retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 143(3) of the Act. 3. Aggrieved with the aforesaid assessment order, assessee preferred an appeal before the Ld. CIT(A), who vide his impugned order dated 15.2.2011 has allowed the appeal of the assessee by deleting the addition in dispute. 4. Now the Revenue is aggrieved against the impugned order and filed the present appeal before the Tribunal. 5. Ld. DR relied upon the order of the AO and reiterated the contentions raised in the grounds of appeal. 6. On the contrary, Ld. Counsel of the assessee relied upon the order of the Ld. CIT(A) and stated that he has passed a well reasoned order, which does not need any interference. 7. We have heard both the parties and perused the records, especially the impugned order passed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice under section 133(6) issued by the Assessing Officer. In the case of M/s. Saba Finishers, the Assessing Officer noted that M/s. Saba Finishers had not responded by the (due date as mentioned in the notice. Though the assessment order is dated 12.12.2005, the Assessing Officer did not consider it of any consequence that on 8.12.2005 M/s. Saba Finishers had filed the following letter before him:- In response to notice dated 3.11.2005, the following were submitted :- a. Copy of account of Gopal clothing Co. Pvt. Ltd. during assessment year 2003-04 in our books b. All sales bills issued to M/s. Gopal clothing Co. Pvt. Ltd. during assessment year 2003-04 c. Copy of my Income-tax return along with the Profit and Loss acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellate proceedings a sample copy of the Purchase Voucher, Purchase order, Invoice of the party, Evidence of receipt of material by the assessee indicating the entry no., date and time of entry, quantity received, name of transporter/truck no., Material receipt note, Shrinkage report., Payment advice etc. were filed. A Copy of the bank statement of M/s. Baba Finishers was also filed, which shows receipts from the appellant. The assessee has filed the affidavits of M/s. Baba Finishers and M/s. Parvathi Agencies which acknowledge the transactions and the receipts from the appellant. The assessee s bankers have confirmed that cheques issued to M/s. Parvathi Agencies have been cleared. M/s. Parvathi Agency is also assessed to tax and as per af ..... X X X X Extracts X X X X X X X X Extracts X X X X
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