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TMI Blog2021 (2) TMI 1310X X X X Extracts X X X X X X X X Extracts X X X X ..... or qualified to audit a public company's account and he has given a certificate, similar to that given in the case of a public company. We do not agree with ld Counsel. The purpose of scrutiny assessment under section 143(3) is to examine, books of accounts, voucher, bills, bank statements etc. That is, in order to verify the unsecured loan, octroi expenses and advances, the assessing officer has to examine books of accounts, voucher, bills, bank statements, confirmations etc. which the assessee has failed to produce before us. The argument of the ld Counsel to the effect that if the assessee submits audit report then in that situation, the assessee need not to furnish books of accounts, voucher, bills, bank statements, confirmations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... told the Bench that he relied on the written submissions furnished by him. The said written submissions are reproduced below: Provisions of Section 44AB for compulsory Audit of books of accounts were applicable in our case, as turnover exceeded Rs 40 lacs and as such the HUF had got its books of accounts for the Asstt. year 1998-99 audited by the firm of Chartered Accountant D.M.S and Vilki Associates. A Xerox copy of the Audit Report is submitted here with. Please refers Annexure A' (Page No.21 to 34) The said Audit Report in form no. 3 CB and in Form No. 3 CD duly seated and signed by the Chartered Accountant and also signed by the assessee was submitted along with the return of income. This Fact is undisputed that the said audit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epresentative for the Revenue has relied on the order passed by the ld. Commissioner of Income Tax (Appeals). She has contended that even in second round, the assessee has failed to produce books of accounts, vouchers, bills and Bank Statements before the assessing officer as well as before ld CIT(A), therefore addition sustained by the ld CIT(A) should be upheld. 5. We have heard both the parties and carefully gone through the submission put forth on behalf of the assessee along with the documents furnished and the case laws relied upon, and perused the fact of the case including the findings of the ld CIT(A) and other materials brought on record. We have gone through the detailed findings of ld CIT(A) and noticed that assessee has fail ..... X X X X Extracts X X X X X X X X Extracts X X X X
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