2013 (12) TMI 655

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....T(A) has erred in deleting the addition of Rs.17,92,764/- on account of Bogus & Inflated Transportation Charges. iii) That on the facts and circumstances of the case and in law, Ld. CIT(A) has erred in deleting the addition of Rs.9,59,909/- on account of Bogus/Ingenuine Sundry Creditors." 2. At the time of hearing, none appeared on behalf of the assessee. Since the matter is very old and has been adjourned several times, we decided to dispose off this appeal, after hearing the ld. D.R. 3. Brief facts in respect of ground no.1 are that the AO noticed, during the course of assessment proceedings that in respect of the proprietorship concern, M/s. Abhishek Plastic Industries, 138800 kgs. of raw materials was consumed which yielded 112947 kg....

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....g account it is perceived that the amount of labour charges of Rs.5,76,000/- is on the credit side of the account and hence corresponding expenses must be on the debit side, hence, when both expense and income elements are included in the manufacturing account the balance in manufacturing account cannot be further reduced. However, as per above explanations and evidences produced sums of Rs.17,04,444/- and Rs.23,97,240/- are deductible from Rs.l,33,51,420/- to determine the valuation of closing stock. The valuation of closing stock thus comes to Rs.8,33,413/- [ Rs.9249736/l38800 kgs into valuation stock of 12506.06 kgs] as against Rs.14,78,334 worked out by the AO. The appellant, thus, gets a relief of Rs.6,44,921/-." 4. The ld. D.R. even ....

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....3.2006 in respect of transport charges received from the assessee. Similarly, copy of the ledger account of M/s. Mahesh Road Carriers in the books of the assessee along with the copy of the bills were also filed before the CIT(A) which shows the transport charges to the extent of Rs.20,88,053/-. The assessee explained how the AO worked out the figure of Rs.2,95,269/- ignoring the copy of the accounts of the assessee in the books of M/s. Mahesh Road Carriers. The CIT(A), after perusing the copy of the ledger account of the assessee in the books of M/s. Mahesh Road Carriers for the relevant year, found that no discrepancy existed in the amount of the expenditure claimed by the assessee on account of M/s. Mahesh Road Carriers and therefore, he....