9911796707
TMI Blog2022 (10) TMI 1054X X X X Extracts X X X X X X X X Extracts X X X X ..... well as the Tribunal to the effect that the Assessee has failed to produced the books of accounts and other relevant materials which was required by the AO to inquire into the transactions of unsecured loans undertaken by the appellant-assessee for the year under consideration. With regard to the addition made on account of the expenses also, there is no material available on record as per the findings of fact arrived at by the CIT(Appeals) and the Tribunal. The addition made on account of advance for goods is also not supported by any documentary evidence. Moreover, no one has come forward to give statement u/s 133(6) of the Act, 1961 and notices under Section 133(6) were not complied with. We are of the opinion that no question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,000/- being amount received in advance against goods though all the primary evidence like confirmation letter etc are on the record of the Department and transaction are routed through banks? (3) Whether on facts and in Law, the Tribunal has substantially erred in confirming the other addition of Rs.43,366 on account of electricity bill, Rs. 90,100 for Millgine store Exp.42,900 for octroi exp though primary evidences were submitted during asstt. proceedings? 3. This appeal has a chequered history as it is arising out of the third round of litigation between the assessee and the department. 3.1. In the first round, assessment order under Section 144 was passed on 30th January, 2001 and additions were made as the assessee did no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estored the matter back to the Assessing Officer to pass a fresh assessment order. 3.7. The Assessing Officer thereafter passed the assessment order under Section 143(3) read with Section 254 of the Act, 1961 in the third round on 29.09.2014 making following addition of Rs.18,44,036/- : (i) Addition on a/c of unsecured loans Rs.13,67,670/- (ii) Disallowance out of Milgin Exp. Rs.90,100/- (iii) Disallowance out of Octroi freight Rs.42,900/- (iv) Difference in Electricity Expenses Rs.43,366/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar 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, and advances, the assessing examine books of accounts, pills, 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 etc. is not acceptable. We have gone through the order of the ld. Commissioner of Income Tax (Appeals) and noticed that the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R 225 (Ker). 3. Grindlays Bank PLC Versus CIT (1993) 201 ITR 348 (Bcm). 4. State of M.P. Versus G.S. dal flour Mills (1991) 187 ITR 478 (SC). 5. We have gone through the material on record and the orders passed by the Revenue Authorities as well as the order passed by the Income Tax Appellate Tribunal. On perusal of the orders it appears that there are concurrent findings of fact arrived at by the CIT (Appeals) as well as the Tribunal to the effect that the Assessee has failed to produced the books of accounts and other relevant materials which was required by the Assessing Officer to inquire into the transactions of unsecured loans undertaken by the appellant-assessee for the year under consideration. 6. With regard ..... X X X X Extracts X X X X X X X X Extracts X X X X
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