9911796707
TMI Blog2019 (4) TMI 1368X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition made by the Assessing Officer. Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. Disallowance of expenses for non-production of bills / vouchers - HELD THAT:- Assessee has not discharged the primary obligation / onus by supporting necessary material. With regard to payment of interest and depreciation, CIT(Appeals) directed the AO to verify and if it is actually found correct, it may be allowed. This Tribunal is of the considered opinion that payment of interest and depreciation on written down value of the machinery can be very well ascertained by the assessee from the respective banks. CIT(Appeals) has rightly directed the AO to verify and if it is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the assessee even though the Ld.counsel has taken note of date of hearing by making endorsement on order sheet. There may be various reasons for the assessee for not appearing before this Tribunal when the appeal was taken up for hearing on 28.01.2019. One of the reasons presumably that the assessee may not be interested in prosecuting the appeal. Whatever it may be, this Tribunal is expected to dispose the appeal on merit. Therefore, we heard the Ld. Departmental Representative and proceeded to dispose the appeal on merit. 3. Shri AR.V. Sreenivasan, the Ld. Departmental Representative, submitted that the first issue arises for consideration is with regard to addition on account of increase in capital account. According to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer. Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. 5. The next ground of appeal is with regard to disallowance of expenses for non-production of bills / vouchers. 6. Shri AR.V. Sreenivasan, the Ld. D.R. submitted that the assessee claimed expenses to the extent of ₹ 12,30,48,321/-. However, the assessee could not produce bills / vouchers for the expenditure. Therefore, according to the Ld. D.R., the Assessing Officer disallowed the expenses on estimate basis at 30% which comes to nearly ₹ 3,69,14,496/-. According to the Ld. D.R., since the assessee has not produced necessary bi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. 8. The next issue arises for consideration is disallowance of current liabilities. 9. Shri AR.V. Sreenivasan, the Ld. D.R. submitted that the assessee did not file return of income for subsequent assessment years. According to the Ld. D.R., the assessee claimed before the Assessing Officer that the business was closed down. The assessee did not have any evidence to show that whether the current liabilities and provisions were actually paid or not during the assessment year under consideration. Therefore, according to the Ld. D.R., the Assessing Officer has rightly disallowed the current liabilities and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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