2013 (12) TMI 2

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....nly issue in this appeal of revenue is against the order of CIT(A) deleting the addition made by AO on account of undisclosed sales to the tune of Rs.24,77,846/-. For this, revenue has raised following ground no.1: "1. The Ld. CIT(A) has erred in deleting the assessee's undisclosed sale of Rs.24,77,846/- without having any evidences and wrongly interpreting the documents placed on record." 3. Briefly stated facts are that the assessee is engaged in the business of trading of generator and earned income from business only. The assessee is maintaining his accounts on mercantile basis. During the course of assessment proceedings, AO noted the discrepancy in respect of sales. As per list of sundry creditors there is credit balance of Rs.4....

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.... list. So far as sale is concern, the appellant had given month wise record as well as a table of sale invoices as annexure 5 to the same submission. Prior to this, one statement of sales above Rs. 5 lakhs was had been filed. It appears that the assessing officer has trying to locate names of the five persons in the said list. Since some of the invoices to the said five parties such as bill no. 12&13/R/OR/07-08 to General Electrical Division no.1, bill no. 02/E-1/OR/07-08 to MMTC Ltd. etc. were of amounts below Rs. 5 lakhs, the same were naturally not appearing in the said list. Some other invoices which were actually appearing in the list have apparently been lost sight by assessing officer. He, therefore, concluded that the sales made to ....

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....d Remand Report is as follows. 1. In this particular case, the additions were made on the following grounds. i) Interest on TDS (Rs.1230/-) and interest on Sales Tax (Rs.6259/-) ii) Discrepancy in respect of sales amounting to Rs.24,7,846/- During the scrutiny proceedings the assessee was asked vide note sheet pg 7 dt. 23.12.2010 to explain the reason of the above discrepancies. He was also asked to produce the necessary reconciliation and evidences in the matter. Assessee was unable to reconcile the figures and requested for more time (note sheet pg no.8). The assessee's request was rejected on the ground that he was afforded reasonable time for submission of relevant documents. 2. Being aggrieved, the assessee preferred app....