2014 (7) TMI 590

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n respect of those parties where there was difference in amount and to whom notices u/s. 133(6) were sent and returned back unserved or no reply of the parties was received". 2. "The appellant prays that the order of the CIT(A) on the above ground be set aside and that of the Assessing Officer be restored". 3. "The appellant craves leave to amend or alter any ground or add a new ground which may be necessary". 2. Assessee-company, engaged in the business of trading in steel, financing and construction, filed its return of income on 30. 10. 2007, declaring total income of Rs. 36, 33, 806/-. AO finalised the assessment u/s. 143(3) of the Act, on31/12/2009, determining the total income at Rs. 78, 27, 944/-. 2. 1. During the course of asses....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ischarge it, that the purchases in respect of above mentioned parties were not genuine. He disallowed the above purchases and made an addition of Rs. 41, 53, 983/-to total income of the assessee. 2. 2. Against the order of the AO assessee preferred an appeal before the First Appeal Authority (FAA). After considering the submissions of the assessee and the assessment order he held that the assessee-company had furnished copy of ledger account of all the parties in whose name discrepancies were noticed by the AO, that all the balances had been confirmed by parties, that payments were made through account payee cheques, that the confirmation filed by the assessee containeded PAN, that the balances were completely tallying with the ledger acco....