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TMI Blog2023 (11) TMI 1144X X X X Extracts X X X X X X X X Extracts X X X X ..... site evidence before the Authorities, therefore, in our considered opinion, the Ld. CIT(A) has rightly confirmed the addition on the basis of remand report. Disallowance of addition in the fixed asset, addition on account of sundry creditors and the disallowance expenses were also remained unexplained by the Assessee before the AO or before the CIT(A). Therefore, we find no reason to interfere with the above disallowances made by the AO which has been confirmed by the CIT(A). Accordingly, we find no merit in the grounds of appeal of the assessee. - SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER For the Appellant: None For the Respondent: Sh. Waseem Arshad, CIT- DR ORDER PE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dering the fact that the assessee is not interested in prosecuting the present appeal, we are compelled to decide the appeal on hearing the Ld. DR and verifying the material on record. 3. The brief facts of the case are that the assessee filed its return of income declaring total loss of Rs.(-)3,23,03,017/-. The return was processed u/s 143(3) of the Income Tax Act ( Act for short). The case of the assessee was selected for compulsory scrutiny. The assessment order came to be passed on 27/02/2015 u/s 144 of the Act by making the additions under various heads by computing the total income of the Assessee at Rs. 8,67,80,973/-. 4. Aggrieved by the assessment order dated 27.02.2015, the assessee preferred an appeal before the Ld. CIT(A), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee and send the requisite remand report. As per Rule 46A of the income Tax Rules, 1962:- The appellant shall not be entitled to produce before Commissioner of Income Tax (Appeals), any evidence other than evidence produced by him during the course of proceedings before the Assessing Officer except in the following circumstances, namely:- (a) Where the Assessing Officer has refused to admit evidence. (b) Where the appellant was prevented by sufficient cause from producing the evidence which he was called upon to produce by the Assessing Officer, or (c) Where the appellant was prevented by sufficient cause from producing before the Assessing Officer any evidence which is relevant to any ground of appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... During the year, the assessee claims to have a sum of Rs. 8,59,00,0007- received as shore application money from M7s Habitat Alliances Ltd. and allotted equity shares to amounting to Rs 7,79,00,0007- to the said applicant and remaining was pending for allotment of shares Now during the course of appellate proceedings the assessee has submitted fresh evidence in the form of bank statement of the assessee in which the said amounts have been received from the said applicant. Further, the assessee has also submitted an unauthenticated bank statement of the applicant party from whom the share application money claimed to have been received: On going through the bank statement of M/s Habitat Alliances Ltd., It is seen that the funds ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of providing ample opportunities the same were not produced during the assessment proceedings. Secondly, the bank statements filed by the assessee are not authentic and cannot be relied upon since the same do not bear any signature or stamp of the issuing authority. To sum up the material adduced do not justify the genuineness or the creditworthiness of the transaction and even the identity is doubtful as no authentic properly signature documents by the applicant have been furnished. The details led by the assessee has only been prima facie examined in the case of the shore application money as the CIT(A) has not given any express direction to examine the same, its kindly requested that in case the evidences are considered then due o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was arose. 4. Disallowance of expenses claimed in P L account amounting to Rs. 2,64,41, 830/-. The assessee company has claimed amounting to Rs. 3,52,55,775/- as expenses made during the year under the various heads. In the absence of the vouchers/bills, the AO has added in the income of the assessee company. Neither the assessee company has not filed any evidence about these expenses nor submitted IDS returns, which has shown that that the expenses claimed in P L account are eligible u/s 40(a)(ia) of IT Act 1961. Therefore, the audition made by the AO is correct and sustainable. 7. The assessee responded to the said Remand Report vide letter dated 18/10/2016. On going through the Remand Report of the AO and also the rep ..... X X X X Extracts X X X X X X X X Extracts X X X X
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