2012 (2) TMI 237

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....ield of rice production by one line observation that "In view of the Ld. A.R's submissions and in view of additional documentary evidence submitted, the addition ahs no legs to stand" without showing as to how the assessee was justified in declaring 62.94% yield as against yield of 65% as adopted by the Assessing Officer and as compared to other assessee like Ganpat Rice & Gen. Mills in the area which were showing percentage of yield ranging from 65% to 67% and more so when the assessment in this case was completed u/s 144 in view of total non compliance of notices and failing to furnishing the necessary details despite number of opportunities provided to the assessee i.e. on 8-5-2007, 3-7-2007, 5-11-2007, 16-11-2007, 21-11-2007, 5-12-2007 ....

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.... had shown unsecured loans of Rs. 5,30,000/- from one Shri Ram Parsad prop. M/s Ram Parsad Rawat Trading Co. According to AO, notices were issued on the partner Shri Sanjeev Bansal to file confirmation of this unsecured loan. Due to non-compliance, this addition was also made. 3. Aggrieved, assessee preferred first appeal, where it was pleaded that at the time of assessment, there were serious disputes among the partners and the other partner Shri Sanjeev Bansal did not respond to notices which unfortunately led to non-compliance. Application 46A was made for admission of additional evidence. CIT(A) admitted the additional evidenced by following observations: " 4. I have carefully considered the contentions of the Ld. AR and perused t....

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....itional evidence u/r 46A(3). In view of the Ld. AR's submissions and in view of the documentary evidences submitted in support of the trading results declared by the appellant firm, the trading addition of Rs. 4,24,164/- has no legs to stand upon and hence deserves to be deleted." 5. In respect of cash credit, assessee contended that it was a fresh credit. Shri Ram Parsad Rawat was a trade creditor and the amount represented trade credit on account of supply of paddy. A proper confirmation was filed with permanent a/c no. of Shri Rawat. CIT(A) was convinced with the explanation of the assessee and deleted the addition by following observations: "13. I have carefully considered the contentions of the Ld. AR and perused the impugned ass....