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TMI Blog2022 (3) TMI 831X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee s appeal are accordingly dismissed. Cash payment of portion of the labour charges, loading and unloading expenses and missionary repair and maintenance charges - HELD THAT:- According to AO such payments were made in cash and bills were not properly vouched and therefore such expenses remained unverifiable. Precisely for this reason, CIT(A) also confirmed the same. No reasons are forthcoming before us to take a different view. We, therefore, do not find any reason to interfere with the findings of the Ld. CIT(A). Disallowance of 1/8th portion of the expenditure met further car expenses, conveyance, Festival expenses, telephone expense, travelling expense and sales promotion expenses - HELD THAT:- Assessing Officer record ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R ORDER PER K. NARASIMHA CHARY, JM. Aggrieved by the order dated 2/1/2018 passed by the learned Commissioner of Income Tax (Appeals)-Kanal ( Ld. CIT(A) ) in the case of the M/s Anandtex international (P) Ltd ( the assessee ), for the Assessment Year 2013-14, assessee preferred this appeal. 2. Brief facts of the case are that the assessee is a company and filed the return of income for the assessment year 2013-14 on 28/9/2013 declaring an income of ₹ 4, 37, 43, 060/-. Assessment under section 143(3) of the Income Tax Act, 1961 (for short the Act ) was complete by order dated 18/3/2016 by making an addition of ₹ 3.96 crores under section 68 of the act, ₹ 6 Lacs on account of disallowance of labour char ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the record we proceed to hear the counsel for Revenue and decide the matter on merits. 5. Insofar as the addition of ₹ 3.96 crores, covered by grounds No. 1 to 3 of the appeal, is concerned, during the course of assessment it was noticed that during the year the assessee introduced fresh share application money of ₹ 17 lakhs and share premium at ₹ 6.3 crores. According to the assessee a sum of ₹ 3.96 croreswas invested by Sh. Suresh Garg, Director by taking advance from M/s Puja Equity advisors (P) Ltd but in spite of repeated demands and granting several opportunities the assessee failed to produce any documentary evidence in support of genuineness and creditworthiness of the transaction. 6. It was noticed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e in them, Ld. CIT(A) also concurred with the learned Assessing Officer to hold that the assessee failed to discharge the onus in explaining the source of funds for this amount and we are pleading of helplessness to produce the Directors before the learned Assessing Officer is no excuse. Ld. CIT(A), accordingly, upheld the findings of the learned Assessing Officer and confirmed the addition. 9. Ld. DR submitted that the decisions of the Hon ble Apex Court in the case of PCIT vs. NRA Iron and Steel (P) Ltd (2019) for 12 ITR 161 (SC) and the decisions of the Hon ble jurisdictional High Court in the cases of PCIT vs. NDR Promoters Pvt. Ltd. (2019) for 10 ITR 379 (Delhi), CIT vs. NR Portfolio Private Limited (2014) 42 taxmann.com 339 (Delhi) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... discharged the onus to establish the credit worthiness of the investor companies? did the assessee do anything more than mere mention of the income tax file number of an investor to discharge the onus under Section 68 of the Act? did the assessee do anything more than mere filing all the primary evidence in discharge of their onus to prove the identity of the investee? etc. 11. When the learned Assessing Officer felt it necessary to verify the things beyond the pale of papers, it is incumbent upon the assessee to cooperate with the learned Assessing Officer in dispelling the doubts, which the circumstances raised in the mind of the learned Assessing Officer. It is not open for the assessee to say that the learned Assessing Officer shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... maintenance charges, according to the learned Assessing Officer such payments were made in cash and bills were not properly vouched and therefore such expenses remained unverifiable. Precisely for this reason, Ld. CIT(A) also confirmed the same. No reasons are forthcoming before us to take a different view. We, therefore, do not find any reason to interfere with the findings of the Ld. CIT(A) and therefore dismiss grounds No. 4 and 5. 15. The next addition challenged under grounds No. 6 and 7, is in respect of ₹ 1 19, 29, 050/-towards the disallowance of 1/8thportion of the expenditure met further car expenses, conveyance, Festival expenses, telephone expense, travelling expense and sales promotion expenses. On this aspect learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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