2018 (1) TMI 449

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... to restore this issue back to the file of Assessing Officer in respect of 11 creditors mentioned in the grounds of appeal. The assessee is directed to furnish all necessary documents before the Assessing Officer to prove the genuineness and creditworthiness of the creditors. The Assessing Officer after affording opportunity of hearing to the assessee shall decide this issue, in accordance with law. It is made clear that the Assessing Officer shall not disturb the relief already granted by the First Appellate Authority in respect of addition u/s. 68 of the Act. Appeal of assessee is allowed for statistical purpose. - ITA No.164/PUN/2015 - - - Dated:- 3-1-2018 - SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM For The Assessee : .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e 1699933 2170000 3869933 5 Dnyaneshwar Chaudhari 250000 150000 400000 6 Kalpan Prakash Maharaj 100000 0 100000 7 Madhuri Dhananjay Marathe 400000 1020000 1420000 8 Nitin Gite 0 150000 150000 9 Pankaj Surana 0 500000 500000 10 Ramdas .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n disbelieving the confirmations filed by various creditors. The ld. AR submitted that in the case of Bhanudas Chaudhari, Dhananjay Marathe, Madhuri Dhananjay Marathe and Sunita Bhanudas Chaudhari the assessments were reopened and the Assessing Officer has accepted the availability of funds. The other creditors are mostly agriculturists. The assessee had furnished 7/12 extracts in respect of all such creditors and had also provided Assessing Officer with PAN of majority of the creditors. The assessee had also furnished confirmations from them. The ld. AR contended that if an opportunity is granted, the assessee would furnish all the necessary documents before the authorities below to prove creditworthiness of the creditors. 5. On the oth .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 18,75,000 4 Dhananjay Marathe 21,70,000 5 Dnyaneshwar Chaudhari 1,50,000 6 Madhuri Dhananjay Marathe 10,20,000 7 Nitin Gite 1,50,000 8 Pankaj Surana 5,00,000 9 Sunita Bhanudas Chaudhari 1,00,000 10 Vinayak Yeola 1,50,000 11 Vishwanath Jadhav 2,50,000 7. It has been conte .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X